EigenLayer stated that one of the most elementary stolen funds were frozen as portion of ongoing recovery efforts.
10829 Total views
14 Total shares
Ethereum restaking protocol EigenLayer assured the community that its protocol has no vulnerabilities after an incident where practically $6 million in tokens were stolen from an investor.
On Oct. 4, the EigenLayer crew stated it changed into investigating an “unapproved promoting inform” pertaining to a wallet ending in “f10D.” The wallet address offered about 1.6 million of EigenLayer’s EIGEN tokens, charge about $5.7 million.
Etherscan like a flash marked the address as beneath investigation following EigenLayer’s announcement.
Token promoting due to an isolated hack
On Oct. 5, EigenLayer posted a community update asserting that the unapproved token-promoting incident changed into due to a hack. The EigenLayer crew stated a malicious attacker compromised an electronic mail thread involving an investor’s token transfer into custody.
As a result of the attack, the investor’s 1.6 million tokens were transferred to the attacker. EigenLayer wrote:
“The attacker offered these stolen EIGEN tokens by a decentralized swap platform and transferred stablecoins to centralized exchanges.”
Within the interim, the protocol stated they’ve already communicated with the platforms and authorities. “We’re in contact with these platforms and regulation enforcement. A portion of the funds receive already been frozen,” EigenLayer added.
While the tokens were stolen through a hack, the EigenLayer crew assured the community that the incident changed into isolated and did now no longer have an effect on its broader ecosystem. The crew stated that the compromise changed into now no longer linked to any onchain functionality. EigenLayer stated there is no identified vulnerability in the protocol or token contracts.
EigenLayer furthermore stated in the community update that it would proceed its investigation and put up an update when they’ve extra recordsdata.
Connected: EigenLayer TVL hits $12.9B, climbs 11% in one week — IntoTheBlock
EIGEN cracks high 100 market rank
On Oct. 1, the EIGEN token changed into unlocked. After the token changed into unlocked, it traded at $3.85 on Binance, striking its fully diluted valuation (FDV) at about $6.5 billion. In response to recordsdata aggregator CoinMarketCap, the valuation placed the token on the 94th verbalize by market capitalization.
On Oct. 5, the coin recordsdata web draw reveals that EIGEN trades at spherical $3.38. This locations its FDV at $5.6 billion, striking it on the 99th draw in the final crypto market capitalization rankings.
Magazine: Ethereum restaking: Blockchain innovation or unhealthy home of playing cards?
