{"id":309326,"date":"2023-03-15T18:52:49","date_gmt":"2023-03-15T18:52:49","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=309326"},"modified":"2023-03-15T18:52:49","modified_gmt":"2023-03-15T18:52:49","slug":"hackers-stole-390k-from-poolz-finance","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/hackers-stole-390k-from-poolz-finance\/","title":{"rendered":"Hackers stole $390k from Poolz Finance"},"content":{"rendered":"<p>Cross-chain Web3 platform Poolz Finance (<a href=\"https:\/\/cryptoslate.com\/coins\/poolz-finance\/\">POOLZ<\/a>) lost $390,000 to a hacking incident on Mar. 16, according to Forkast News' report.<\/p>\n<p>Hackers attacked Poolz Finance's token vesting protocols on the Binance Smart Chain (<a href=\"https:\/\/cryptoslate.com\/coins\/bnb\/\">BNB<\/a>) and Polygon (<a href=\"https:\/\/cryptoslate.com\/coins\/polygon\/\">MATIC<\/a>) chains, Forkast News <a href=\"https:\/\/forkast.news\/headlines\/web3-crowdfunding-launchpad-poolz-finance-hacked-us390000-bsc-polygon\/\">noted<\/a>. The attack was first noticed by crypto sleuth <a href=\"https:\/\/twitter.com\/peckshield\/status\/1635860470359015425\">PeckShield<\/a>, who Tweeted the problem to warn Poolz Finance.<\/p>\n<p>PeckShield noted:<\/p>\n<blockquote><p><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">&#8220;Our initial analysis shows the @Poolz__ <\/span>hack is due to a classic arithmetic overflow issue, which is exploited to drain funds from the contract.&#8221;<\/p><\/blockquote>\n<p>It also <a href=\"https:\/\/twitter.com\/peckshield\/status\/1635857777364193281\">tagged<\/a> the relative bscscan link that shows the repetitive code of the attack.<\/p>\n<h2>Poolz Finance<\/h2>\n<p>Behaving as a decentralized crowdfunding platform, Poolz Finance helped 96 projects to hold initial dex offerings since its launch.<\/p>\n<p>In response to the exploit, Poolz Finance tweeted to <a href=\"https:\/\/twitter.com\/Poolz__\/status\/1635899850918178817\">say<\/a> that they flagged the hacker addresses and completely froze all POOLZ token porting on the ChainPort bridge. Poolz Finance said:<\/p>\n<blockquote><p><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">&#8220;First, the damage; the liquidity on pancake is around $200k, we are going to put the exact same amount from the company treasury. <\/span><\/p>\n<p><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">Most important again, don\u2019t trade POOLZ at the moment. Thanks.&#8221;<\/span><\/p><\/blockquote>\n<p>The team also noted that they will create a new smart contract for the POOLZ token and airdrop it to all addresses registered on the last block before the hack.<\/p>\n<h2>POOLZ token<\/h2>\n<p>In the meantime, the POOLZ token recorded a -97.25% decrease in the last 24 hours, according to <em>CryptoSlate<\/em> data.<\/p>\n<figure id=\"attachment_309365\" aria-describedby=\"caption-attachment-309365\" style=\"width: 604px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-309365\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/03\/POOLZUSDT_2023-03-15_21-05-41.png\" alt=\"POOLZUSDT\" width=\"604\" height=\"458\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/03\/POOLZUSDT_2023-03-15_21-05-41.png 1053w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/03\/POOLZUSDT_2023-03-15_21-05-41-300x228.png 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/03\/POOLZUSDT_2023-03-15_21-05-41-1024x778.png 1024w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/03\/POOLZUSDT_2023-03-15_21-05-41-768x583.png 768w\" sizes=\"(max-width: 604px) 100vw, 604px\" \/><figcaption id=\"caption-attachment-309365\" class=\"wp-caption-text\">POOLZUSDT<\/figcaption><\/figure>\n<p>The POOLZ token has been lingering a little over $4 before the attack. At the time of writing, it is being traded for $2.7864. CryptoSlate metrics also show that the token lost -10.19% and -96.96% in the last hour and last seven days, respectively.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cross-chain Web3 platform Poolz Finance (POOLZ) lost $390,000 to a hacking incident on Mar. 16, according to Forkast News&#8217; report. Hackers attacked Poolz Finance&#8217;s token vesting protocols on the Binance Smart Chain (BNB) and Polygon (MATIC) chains, Forkast News noted. The attack was first noticed by crypto sleuth PeckShield, who Tweeted the problem to warn [&hellip;]<\/p>\n","protected":false},"author":1262,"featured_media":309339,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[46940,16041],"tags":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Hackers stole $390k from Poolz Finance<\/title>\n<meta name=\"description\" content=\"Hackers used a repetitive function to exploit Poolz Finance&#039;s BNB and Polygon chains.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/hackers-stole-390k-from-poolz-finance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hackers stole $390k from Poolz Finance\" \/>\n<meta property=\"og:description\" content=\"Hackers used a repetitive function to exploit Poolz Finance&#039;s BNB and Polygon chains.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/hackers-stole-390k-from-poolz-finance\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-15T18:52:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/03\/hacked.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Zeynep Geylan\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Zeynep Geylan\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/hackers-stole-390k-from-poolz-finance\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/hackers-stole-390k-from-poolz-finance\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/zeynep-geylan\/#person\",\"name\":\"Zeynep Geylan\",\"url\":\"https:\/\/cryptoslate.com\/author\/zeynep-geylan\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/zeynep-geylan\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/zeynep-geylan\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/03\/zeynep-geylan-author-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/03\/zeynep-geylan-author-300x300.jpg\",\"caption\":\"Zeynep Geylan\"},\"jobTitle\":\"Journalist\",\"description\":\"Zeynep is an academic who turned to crypto in 2018. 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