Share this article
DeFi Lender bZx Suffers Hack for Reported $55M
bZx tweeted that a private key controlling the protocol’s deployment on Polygon and Binance Smart Chain was breached.
By James Rubin
Updated May 11, 2023, 4:04 p.m. Published Nov 5, 2021, 7:26 p.m.
Decentralized finance (DeFi) lender bZx suffered a hack of reportedly $55 million, according to a tweet on Friday by the blockchain security firm SlowMist.
- “#bZx private key compromised, over $55 million dollars stolen so far. We’ll continue to update as more information is discovered,” SlowMist tweeted.
- bZx responded in a tweet that a private key controlling the protocol’s deployment on Polygon and Binance Smart Chain was compromised, but that its smart contracts were not.
- The protocol added that about 25% of the stolen amount was “personal losses from the team wallet that was compromised,” and that the incident is still under investigation.
- bZx suffered three hacks last year, although it was able to recover $8 million in cryptocurrency from the third and largest of these attacks, which occurred in September. The other two hacks for $630,000 and $350,000, respectively, occurred in February.
#bZx private key compromised, over $55 million dollars stolen so far. We’ll continue to update as more information is discovered. @RektHQ @ChainNewscom @bZxHQ https://t.co/SM6WWDt06J pic.twitter.com/39S05IiBFr
— SlowMist (@SlowMist_Team) November 5, 2021
UPDATE (Nov. 5 19:54 UTC): Adds third bullet point and information about 2020 hacks.
More For You
Alcoa is in advanced negotiations to sell its dormant Massena East smelter in upstate New York to Bitcoin mining firm NYDIG.
What to know:
- Alcoa is in advanced negotiations to sell its dormant Massena East smelter in upstate New York to Bitcoin mining firm NYDIG, with the deal expected to finalize by mid-2026.
- Though the site stopped producing aluminum in 2014, its intact, heavy-duty electrical infrastructure and direct access to carbon-free hydropower make it...
