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DeFi Hedge Fund Force DAO Attacked; FORCE Token Plunges
The price of Force DAO's native token is now down more than 80% in the last 24 hours.
Updated Sep 14, 2021, 12:35 p.m. Published Apr 4, 2021, 3:05 p.m. 1 min read
A decentralized finance (DeFi) hedge fund suffered an attack early Sunday morning that one analyst said was caused by five attackers.
ATTENTION
— Force (@force_dao) April 4, 2021
Our team is aware of the xFORCE contract exploit and has identified the nature of the issue.
There are no further funds available on the xFORCE contract to be exploited.
All other vaults are safe.
We will provide a post-mortem and next steps over the coming hours.
- The price of Force DAO's native token FORCE plunged on the news and is now down more than 80% in the last 24 hours, according to CoinGecko.
- According to a chain of tweets by Mudit Gupta, blockchain team lead at blockchain software company Polymath, there were five attackers, one of whom later returned his share of the stolen funds. The others, however, made off with FORCE tokens worth about US$376,000.
xFORCE contract from @force_dao hacked and drained by a whitehacker. In the FORCE token, the transfer functions return false rather than reverting when the sender doesn't have enough balance. The xFORCE contract assumes FORCE will revert and does not handle the returned value. pic.twitter.com/lPo9vJ48bs
— Mudit Gupta (@Mudit__Gupta) April 4, 2021
Hacker 4 - Drained about 300k FORCE tokens, sold most of them on DEXs for ~50 ETH ($100k).https://t.co/YME1GUGpib
— Mudit Gupta (@Mudit__Gupta) April 4, 2021
Hacker 5 - Drained about 1.1m FORCE tokens, sold some for ~45 ETH ($95k).https://t.co/1upadhvjOU@etherscan Can you please tag these accounts as hackers as well?
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