The decentralized protocol Onyx has suffered a major security attack that drained $3.2 million in user assets, sparking widespread concern in the cryptocurrency community.
The incident comes as part of a series of cyber attacks that have recently hit the crypto industry, prompting regulatory authorities to step up their oversight.
Some observers believe that these incidents may negatively affect investor confidence, especially in light of the increasing institutional interest in the sector.
Onyx hack details:
According to a report by PeckShield, a blockchain security and transaction analytics company, the OnyxDAO breach resulted in the loss of assets worth up to $3.2 million.
Data on the network shows that hackers have taken large amounts of VUSD, with funds being moved across multiple platforms.
Currently, the attackers hold approximately 521 ETH, which is equivalent to about $1.36 million.
The breach was attributed to a vulnerability in the âCompoundV2â database, with hackers exploiting the flaw to manipulate exchange rates, resulting in significant price losses.
The stolen cryptocurrencies included VUSD, DAI, XCN, USDT, and WBTC.
This hack has sparked debate about the security of decentralized protocols and the protection of digital assets, especially after a series of losses suffered by users as a result of similar attacks.
