Raydium discloses details on how $2 million got drained from liquidity pools by a hacker attack. The exchange proposes paying compensation to affected users.
control of an admin pool private key. The team does not know how this key was obtained, but it suspects that the virtual machine that held the key became infected with a trojan program.
Once the attacker had the key, they called a function to withdraw transaction fees that would normally go to the DAO’s treasury to be used for buybacks of RAY. On Raydium, transaction fees do not automatically go to the treasury at the moment of a swap. Instead, they remain in the liquidity provider’s pool until withdrawn by an admin. However, the smart contract keeps track of the amount of fees owed to the DAO through parameters.
Nevertheless, because of a flaw in the contract, the attacker was able to manually change the parameters, making it appear that the entire liquidity pool was transaction fees that had been collected. This allowed the attacker to withdraw all of the funds. Once the funds were withdrawn, the attacker was able to manually swap them for other tokens and transfer the proceeds to other wallets under the attacker’s control.
In the Dec. 21 forum post, the developers proposed a plan to compensate victims of the attack. The team will use its own unlocked RAY tokens to compensate RAY holders who lost their tokens due to the attack. It has asked for a forum discussion on how to implement a compensation plan using the DAO’s treasury to purchase non-RAY tokens that have been lost. The team is asking for a three-day discussion to take place to decide the issue.on Dec. 16.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
After Tuition, Books, And Room And Board, Colleges’ Rising Health Fees Hit a NerveBut have you thought about how much your son’s or daughter’s dream school will charge for health coverage? You might be in for a shock.
Weiterlesen »
Wells Fargo to pay $3.7 billion over illegal consumer loan charges, overdraft feesThe Consumer Financial Protection Bureau on Tuesday ordered Wells to repay $2 billion to consumers and enacted a $1.7 billion penalty against the bank.
Weiterlesen »
Wells Fargo to pay $3.7 billion over illegal fees, interest, overdraftsThe Consumer Financial Protection Bureau on Tuesday ordered Wells Fargo to repay $2 billion to consumers and enacted a $1.7 billion penalty against the bank. It’s the largest fine to date against Wells. Details:
Weiterlesen »
CFPB’s allegations against Wells Fargo: illegal fees, wrongful car repos and misapplied paymentsThe watchdog agency said Tuesday that the bank would pay $3.7 billion for wrongdoing and mismanagement, with more than than $2 billion in redress to consumers.
Weiterlesen »
GP fees in Alderney to rise from JanuaryThe States of Alderney says the change reflects rising costs amid work to develop a new model of care.
Weiterlesen »
Scammers sending fake USPS texts, asking for package redelivery feesWhile many Utahns are getting into the giving spirit, there are people out there who take advantage of us during the holiday season.
Weiterlesen »