Wednesday, May 11, 2022
Crypto Tella Story
No Result
View All Result
  • Home
  • Bitcoin
  • Cryptocurrency
  • Ethereum
  • Blockchain
  • Dogecoin
  • Altcoin
  • Litecoin
  • ICO
  • Chainlink
  • DeFi
  • XRP
  • Videos
  • Live Prices
CRYPTO TELL A STORY
No Result
View All Result
Home Altcoin

FORCE token sees volatile 24 hours following coordinated attack on ForceDAO

by Handy
April 6, 2021
in Altcoin
0
FORCE token sees volatile 24 hours following coordinated attack on ForceDAO
0
SHARES
3
VIEWS
Share on FacebookShare on Twitter



Hackers made off with 183 Ethereum (ETH), value roughly $386,000 on the time of writing, following a coordinated assault on DeFi platform ForceDAO Sunday. Following an preliminary selloff, ForceDAO’s native FORCE token was in restoration mode on Monday, capping off a extremely risky 24 hours for the newly launched venture. 

ForceDAO detailed the Sunday exploit in a series of tweets, taking possession of the “engineering oversight” that resulted within the assault, which centered across the platform’s xFORCE contract. 

POST-MORTEM

To the Power and DeFi neighborhood, we would wish to share a autopsy on the latest xFORCE exploit.

Due to everybody technical and non-technical who helped alongside the way in which.

Particularly to the White Hat who helped deter FORCE getting drained.https://t.co/MK2GH69yLd

— Power (@force_dao) April 4, 2021

In a follow-up weblog submit, Alberto Cevallos explained:

“The exploiters had been capable of deposit FORCE tokens that might fail the switch [f]rom name and obtain xFORCE tokens, because the xFORCE contract expects a revert from the token however as a substitute receives false.”

He continued:

“A person may then withdraw these newly minted xFORCE tokens for the remaining FORCE tokens within the vault, and liquidate them for ETH on exchanges.”

A further 14.8 million FORCE tokens had been compromised within the preliminary assault, although they’ve since been returned to the pool.

Typically described as a quantitative hedge fund, Power is each a protocol and decentralized autonomous group, or DAO, that’s designed to provide higher-yielding DeFi alternatives for its neighborhood.

The FORCE token collapsed greater than 99% on Sunday, from $2.21 to a low of simply 2 cents, in response to CoinGecko. The token has since recovered 173% within the final 24 hours.



Source link

Tags: AttackcoordinatedFORCEForceDAOHoursseesTokenvolatile
ADVERTISEMENT
Handy

Handy

Next Post
Crypto ban: Its not the solution – Business Standard

Crypto ban: Its not the solution - Business Standard

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Litecoin Is Getting Pinched Between Support And Resistance

Litecoin Is Getting Pinched Between Support And Resistance

9 months ago
Sen. Toomey Invested in Bitcoin, Ethereum After Asking for Fewer Crypto Rules

Sen. Toomey Invested in Bitcoin, Ethereum After Asking for Fewer Crypto Rules

10 months ago
  • Bitcoin, Ethereum prices up as cryptocurrency bounces back from 2 weeks of losses – National

    Bitcoin, Ethereum prices up as cryptocurrency bounces back from 2 weeks of losses – National

    0 shares
    Share 0 Tweet 0
  • Privok.in, an initiative towards A Renewable Green Energy Revolution

    0 shares
    Share 0 Tweet 0
  • Ripple prepares for a 35% liftoff

    0 shares
    Share 0 Tweet 0
  • Ripple Executives Call on Congress for Clear Crypto Guidelines As SEC’s XRP Lawsuit Rolls On

    0 shares
    Share 0 Tweet 0
  • Decentraland Price Down By 11.10% – Time To Buy MANA?

    0 shares
    Share 0 Tweet 0

Recommended

Recent News

Ethereum (ETH), Terra (LUNA) Operations on Binance (BNB) Affected by Congestion: CZ

Ethereum (ETH), Terra (LUNA) Operations on Binance (BNB) Affected by Congestion: CZ

May 11, 2022
Bitcoin price reclaims $30K as Bitcoin Cash hits fresh record low against BTC

Bitcoin price reclaims $30K as Bitcoin Cash hits fresh record low against BTC

May 11, 2022
Bank of Central African States Urges CAR to Annul Bitcoin as Currency

Bank of Central African States Urges CAR to Annul Bitcoin as Currency

May 11, 2022

Categories

  • Altcoin
  • Bitcoin
  • Blockchain
  • Chainlink
  • Cryptocurrency
  • DeFi
  • Dogecoin
  • Ethereum
  • ICO
  • Litecoin
  • Uncategorized
  • Videos
  • XRP

Follow Us

Calendar

May 2022
M T W T F S S
 1
2345678
9101112131415
16171819202122
23242526272829
3031  
« Apr    
  • Privacy & Policy
  • About Us

© 2021 Crypto Tell A story  

No Result
View All Result
  • Home
  • Bitcoin
  • Cryptocurrency
  • Ethereum
  • Blockchain
  • Dogecoin
  • Altcoin
  • Litecoin
  • ICO
  • Chainlink
  • DeFi
  • XRP
  • Videos
  • Live Prices

© 2021 Crypto Tell A story