We can’t believe this actually happened
The world of crypto is rich territory for some pretty mind-bending stories.
Nobody saw this coming.
Decentralised finance lending protocol Fortress has been hacked resulting in a total loss of nearly US$3 million, the entirety of its funds.
The protocol confirmed on Twitter that it suffered an oracle price manipulation attack, in which 1,048.1 Ethereum and 400,000 Dai had been stolen, totalling around US$2.98 million.
According to Etherescan transaction data, after breaching the protocol the attacker converted all stolen funds to Ethereum (ETH) before depositing them into well-known crypto mixer, Tornado Cash.
Crypto mixers are often used by criminals and hackers to launder stolen cryptocurrencies and help mask their digital footprint.
Blocksec, a firm specialising in blockchain security, outlined that Fortress’s Chain oracle was deficient in power verification making the protocol an easy target for hackers.
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