Cryptocurrency SafeMoon has confirmed a hacking attack against its project, hours after releasing a liquidity pool update. Initial investigations show that the cryptocurrency wallets associated with the project remain secure.
In addition, the DEX brokerage associated with the project had no data on breaches, all of which indicate that the attack only affected LP.
However, the case may have cost nearly $9 million, an amount the CEO stated will be reimbursed to the victims.
“To the SafeMoon community: We want to let you know that our LP has been compromised. We will take prompt action to resolve the issue as soon as possible. Go here for updates. Thank you for your support as we work to resolve this situation.”
to the @SAFEMOON community: We want to inform you that our LP has been compromised.
We will take prompt action to resolve the issue as soon as possible. Follow here for updates.
Thank you for your support as we work to address this situation.
— SafeMoon (@safemoon) March 28, 2023
Cryptocurrency CEO SafeMoon confirms hacking attack, investigates case
The CEO of SafeMoon cryptocurrency, John Karoni, published this Wednesday (29), issued a statement to the community. He confirmed that the currency’s liquidity pool has been compromised with BNB, action last Tuesday (28).
“As you may know, on Tuesday, March 28, SafeMoon’s liquidity pool was compromised. We took swift action to resolve the situation and protect our community. I want to make it clear that our DEX is safe. This affected the SFM:BNB LP pool.”
After the incident, the project’s developer team came together to adopt practices to protect investors. In addition, it discovered the source of the problem and tried to correct the malfunction to prevent further problems.
After the project failed, the SafeMoon team hired a blockchain research specialist to see if any more issues could be detected besides tracking the funds.
The CEO of SafeMoon stated that the cryptocurrencies of the network users are protected, stating that the current crisis will be overcome.
Hacker suggests returning values
The blockchain research team eventually got a message from the hackers through a transaction, telling SafeMoon developers to relax.
The hacker responsible for the shipment claims that he intends to return the stolen values and that the attack was accidental.
“Hey, relax, we accidentally start an attack on you, we would like to return the money, establish a secure communication channel, let’s talk.”
After the message from the hackers, it is not clear whether the SafeMoon team has already made contact and is trying to restore the values.
Regardless, the $8.9 million attack drew attention to a potentially flawed update to the project, leaving an open vulnerability. The case remains under investigation.
Source: Live Coins
Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
