Binance Smart Chain-based automated market maker platform Uranium Finance reported a security abuse that resulted in a loss of $ 50 million.
Uranium, in a post shared on wednesday He explained that the cyber attack targeted the v2.1 token migration and the team contacted the Binance security team to resolve the situation.
(1/2)‼️ Uranium migration has been exploited, the following address has 50m in it The only thing that matters is keeping the funds on BSC, everyone please start tweeting this address to Binance immediately asking them to stop transfers.
— Uranium Finance (@UraniumFinance) April 28, 2021
The cyber attacker allegedly exploited bugs in Uranium’s balance editor and inflated the project’s balance by 100x.
This error resulted in the theft of $ 50 million from the project. The contract created by the cyber attacker still holds $ 36.8 million worth of Binance Coin (BNB) and Binance USD (BUSD) as of the time of translation release.
The cyber attacker stole 80 Bitcoin (BTC), 1.800 Ether (ETH), 26.500 Polkadot (DOT), 5.7 million Tether (USDT), 638 thousand Cardano (ADA) and the project’s own tokens, 112 thousand u92 from the project.
BscScan data shows that the attacker converted ADA and DOT tokens to Ether and then already moved 2,400 Ether worth $ 5.7 million using the Ethereum privacy tool Tornado Cash.
Uranium announced that they reached out to the Binance security team to prevent the cyber attacker from carrying more crypto from the BSC ecosystem.
Binance did not respond to Cointelegraph’s request for comment.
The project team, which also formed a Telegram group for the victims, stated that they would share the developments.