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PlayDapp’s smart contract exploit enters its fifth day, accumulating over $290 million in losses, marking the largest hack since 2022.&nbsp; 
The PlayDapp security breach was previously <a href="https://crypto.news/hacker-manipulates-playdapp-minting-pla-plummets/">reported</a> by crypto.news on Feb. 9th, when an unauthorized addition to the <a href="https://www.coingecko.com/en/coins/playdapp" target="_blank" rel="noopener">PLA</a> token’s minting address was identified by several security analysts, immediately plummeting the token’s value. The incident has continued to unfold throughout the week, as major exchanges like <a href="https://crypto.news/coinbase-suspends-playdapp-token-trading-in-response-to-smart-contract-security-breach/">Coinbase</a> have suspended PLA trading.&nbsp; 
PlayDapp has paused the PLA smart contract and proposed a <a href="https://twitter.com/playdapp_io/status/1757737678769164444" target="_blank" rel="noopener">migration plan</a> to shift to a new ‘PDA’ token for the network, which will have improved security measures like multi-signature implementation.&nbsp; 
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 The PLA smart contract has been paused. We kindly request the halt of transactions to conduct a snapshot for migration. Please understand that we are doing everything to protect holders' assets, and we will continue to keep the community updated.— PlayDapp (@playdapp_io) <a href="https://twitter.com/playdapp_io/status/1757357566844342365?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">February 13, 2024</a>
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Analysts from the blockchain security platform <a href="https://cyvers.ai/" target="_blank" rel="noopener">Cyvers</a> have provided a detailed breakdown of how the breach occurred, as the attacker added their address as a minter and minted 200 million PLA tokens worth $31 million. 
On Feb. 12, the hacker still had access to the smart contract and minted an additional 1.59 billion PLA tokens worth $223 million. Some tokens are deposited to exchanges such as Paribu and HTX. PlayDapp also contacted the hacker via on-chain messages to return the stolen contracts for a substantial reward.&nbsp;&nbsp; 
Since the attack, the PLA has been down by over 15%.&nbsp; 
 Read more: <a href="https://crypto.news/elizabeth-warren-bitcoin-satoshi-nakamoto/"> Elizabeth Warren honors Bitcoin creator Satoshi Nakamoto </a>

PlayDapp breach 8th largest hack in crypto history at $290m

crypto.news

Ďalšie články zverejnené 15. 2. 2024

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