Seneca Protocol lost $6.6 million as a result of a hacker attack
Hackers took advantage of a vulnerability in the protocol related to the transferfrom function. The attackers converted the withdrawn funds into 1,900 ETH.
The Seneca protocol lost $6.6 million in assets as a result of the attack. Hackers took advantage of a vulnerability in the project's smart contract approval mechanism.
According to available information, the attackers used the transferfrom function and specially selected data from the calldata memory section to attack. With the help of these manipulations, hackers were able to transfer the project token to addresses under their control.
Analysts noted that unknown people converted the withdrawn assets into Ethereum. In total, the hackers got 1,900 ETH ($6.6 million). Currently, assets are stored on three cryptocurrency wallets.
The Seneca team announced the launch of an investigation into the incident. At the same time, the management urged users to revoke permissions for a number of addresses associated with Ethereum and Arbitrum.
The developers appealed to those responsible for the attack and offered to return the stolen funds in exchange for a reward of 20% of the withdrawn amount. At the same time, Seneca's management will also refuse to prosecute the hacker.
Source: https://incrypted.com/protokol-seneca-lyshylsja-6-6-mln-v-rezultate-hakerskoj-ataky/
