Blockchain Security Firm Detects $50 Million Movement Linked to NFT Project Hack - Latest cryptocurrency news

Blockchain Security Firm Detects $50 Million Movement Linked to NFT Project Hack

Blockchain security company Cyvers detected a movement of $50 million related to a hack attack on KyberSwap, associated with the native service tokens of the NFT project Herencia Artifexc. The Cyvers team shared screenshots detailing this movement.

It has been revealed that the KyberSwap hacker obtained the mentioned tokens by using the “transfer from” function from an Ethereum address. This function allows the sender to transfer tokens from another party’s balance to a third party.

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The security breach could stem from a flaw in the Multicall function, which is part of the Thirdweb libraries used in the HXA token’s smart contract. The Cyvers team proposed this idea and called on relevant parties to join the investigation.

The funds obtained by the KyberSwap hacker are currently distributed among various independent owner accounts (EOA). The cryptocurrency exchange MEXC has temporarily suspended withdrawal and deposit transactions for the HXA token.

Currently, access to the official website of the HXA token at hxacoin io is not possible. Investors and individual users have been left without official information and updates. Last month, hackers stole approximately $46 million in crypto assets in an attack on the KyberSwap exchange.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
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