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Over $30 Million in WETH and MATIC Stolen From DeFi Project MonoX

Summary:
MonoX, a decentralized finance project providing single token pools, has become the latest hack victim, in which early estimations show that the perpetrators managed to take more than million in various cryptocurrencies. The protocol took it to Twitter to confirm the breach, explaining that a “method in the swap contract was exploited and boosted MONO token price to sky-high.” The attackers used the coin to purchase several other digital assets. According to some estimations, the total amount stolen is around million. Those include million in wrapper ether (WETH) and more than million in Polygon (MATIC). Some of the other duped assets include WBTC, GHST, DUCK, IMX, MIM, and LINK. So far, MonoX has failed to provide any more specifics on the security breach,

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MonoX, a decentralized finance project providing single token pools, has become the latest hack victim, in which early estimations show that the perpetrators managed to take more than $30 million in various cryptocurrencies.

  • The protocol took it to Twitter to confirm the breach, explaining that a “method in the swap contract was exploited and boosted MONO token price to sky-high.”
  • The attackers used the coin to purchase several other digital assets. According to some estimations, the total amount stolen is around $31 million. Those include $18 million in wrapper ether (WETH) and more than $10 million in Polygon (MATIC).
  • Some of the other duped assets include WBTC, GHST, DUCK, IMX, MIM, and LINK.
  • So far, MonoX has failed to provide any more specifics on the security breach, aside from wishing to speak directly to the hacker in order to resolve the issue.
  • This latest incident adds to the growing list of exploited DeFi protocols. CryptoPotato has reported numerous such occasions, with some of the latest being a $12 million attack against pNetwork and $3 million stolen from SushiSwap’s token platform.

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