đ¨ Major Cybersecurity Incident: NFTs Worth $1.5m Stolen From Flooring Protocol
In a recent cyberattack exploit, non-fungible token (NFT) liquidity solution Flooring Protocol fell victim to a breach on December 16, resulting in the theft of NFTs valued at $1.5 million. Here's the breakdown:
đ Attack Details:
Reports indicate the attack targeted Flooring Protocolâs peripheral or multicall smart contract, leading to the illicit transfer and subsequent sale of the stolen NFTs by the attacker on the Blur platform.
đ§ Swift Response and Fix:
Flooring Protocol's developers responded promptly, deploying a fix a few hours after the attack. They assure users that the primary smart contract remains secure, and digital assets in vaults and safeboxes were unaffected by the breach.
đ° Stolen NFTs Sold:
Despite the fix, the hacker managed to sell the pilfered NFTs on Blur, reaping between $1.5 million and $1.6 million, contingent on ETH prices.
đŤ Dim Prospects for Recovery:
Boring Security, a security protocol funded by ApeCoin DAO, suggests that users who lost NFTs in the attack may face challenges in recovering them, given the swift actions of the hacker.
đ Similar Incidents in the NFT Space:
This incident closely follows a breach on P2P NFT platform NFT Trader, where blue-chip NFTs were stolen. Notably, the hacker in that case initially demanded a bounty but later returned some of the stolen items.
đ Market Impact:
Despite the attack, Flooring Protocol's native token FLC has shown resilience, experiencing a 12% surge in the last 24 hours. With a one-day trading volume of $3.34 million, FLC has displayed positive performance in the last 30 and 14 days, albeit a 22.2% loss in the previous seven days.
đ Flooring Protocol Overview:
Launched just two months ago on October 15, Flooring Protocol quickly gained traction by offering a unique approach to NFTs, breaking them down into ERC-20s.
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