Decentralized finance protocol MonoX Finance has been drained of $31 million as the result of a hack that occurred earlier today.
It was the third project to appear on Primelist, the token listing platform of major cryptocurrency exchange Huobi, earlier this month.
The team has already addressed the incident in a statement on Twitter, claiming that a vulnerability in the swap contract was used by the attacker to artificially inflate the price of the MONO token and then purchase all digital assets in the pool.
This morning our contract has been exploited. We are sorry to our users who have deposited funds. The team is investigating and will try our very best to get the stolen funds back. We thank our community for your support.
— MonoX (@MonoXFinance) November 30, 2021
In a lengthy Twitter thread, MonoX also made a desperate plea to the hacker in an attempt to reach out to him/her:
We also really wish to have a chance in talking with the "hacker". We value very much for what we've built for the current and future MonoX, and most importantly our users and their funds; PLEASE reach out to us.
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The attacker pocketed $18.2 million worth of wrapped Ether (WETH) and $10.5 million worth of Polygon (MATIC).
Alex DovbnyaDisclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
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