Hacker Siphons Close to $300K in OHM Tokens From the Olympus DAO
On Friday, October 21, a malicious entity siphoned 30,437 OHM tokens from the Olympus DAO after finding a loophole in the rebase project’s smart contract. Following the exploit, the blockchain security and data analytics company, Peckshield, detailed the hackers stole close to $300K in OHM tokens. ** Editor’s note: According to an update later posted to the Olympus Discord channel, Olympus DAO detailed that the “funds have been returned to the DAO wallet.” Apparently, the hacker was paid a bounty and returned the 30K OHM. Hacker Exploits Smart Contract’s....
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Presently in a National Park, Mount Olympus, was at one time home to some of the most powerful Greek gods. According to ancient Greek legend, the mountain Olympus was built after the younger gods defeated the titans in the battle for control of the world. The peaked mountain, according to experts, was created to hide […]
Another decentralized finance (defi) protocol was breached this week after it was discovered that a hacker exploited the bilateral over-the-counter (OTC) derivatives platform Deus Finance. According to a post mortem Twitter thread published by the security firm Peckshield, Deus lost around $3 million worth of ethereum and the stablecoin DAI. Attacker Steals $3 Million From Defi Protocol Deus Finance via Price Oracle Exploit The crypto community has been conversing about another defi hack after a few reports noted the defi application Deus Finance was siphoned for $3 million in crypto....
OHM price is on the verge of a new high after a series of cross platform integrations, fresh bond offerings and the launch of Olympus Pro prove that the project has strong fundamentals. The rapidly evolving world of blockchain technology offers a wide range of approaches and tokenomic models aimed at solving the blockchain trilemma of creating a decentralized, stable and secure network. One tokenomic model that has seen several varients over the past year is the 'rebase' model, which is designed in a way so that token balances can fluctuate over time depending on changes in token price and....
Findings stemming from a recent report published by the security-focused blockchain firm Certik indicate that the Binance smart chain Ethereum bridge called Qubit has been hacked for $80 million. Data shows on January 27, 2022, an attacker siphoned a number of tokens from an exploit on Qubit Finance’s bridge and Certik says the hack is “by far the largest exploit of 2022 to date.” Qubit’s Binance Smart Chain Ethereum Cross-Chain Bridge Attacked for $80 Million in Defi Tokens A decentralized finance (defi) exploit tied to Qubit Finance’s Binance smart....
About four months ago, four of the top rebase tokens by market valuation were worth close to $8 billion in USD value and today, the entire lot of rebase tokens collectively are valued at $1.14 billion. The largest rebase crypto by market capitalization, olympus (OHM), had a $4.3 billion market valuation last November, but after shedding 98.1% in USD value, OHM’s market capitalization is now $438 million.
Over $7 Billion Exited the Rebase Token Economy During the Last Four Months
During the first week of November, Bitcoin.com News reported on the olympus (OHM) rebase token....