infooverload
Data Analyst
2
MONTHS
2 2 MONTHS OF SERVICE
LEVEL 1
300 XP
source :
Vestrans has reported a serious hacker attack, as a result of which an attacker exploited a vulnerability in the locked staking contract. By manipulating the reward mechanism, he received 73,720,000 $VSTR tokens in excess of what he was supposed to. After that, the tokens were gradually sold on Uniswap, resulting in a loss of liquidity worth about $500,000 in ETH.
To prevent further losses, the Vestrans team promptly locked the locked staking contracts by voting for four of the seven delegates. This decision stopped interaction with contracts, excluding 755,631,188 $VSTR from circulation, however, users can no longer withdraw funds from locked pools.
The company is aware of the impact of the incident on users and assured that all funds will be redistributed among their rightful owners. The team is currently working on creating a plan to solve the problem, the details of which are promised to be presented in the coming days.
Vestrans representatives expressed their gratitude to the community for their support during this difficult period. The company is proud of the cohesion of its users and intends to make every effort to minimize the consequences of the attack and stabilize the situation.
Despite the volatility of the token rate, Vestrans is confident that the situation will soon stabilize. The company continues to implement its mission to create a sustainable project based on the Ethereum blockchain, emphasizing its reliability and potential.
The incident highlighted the importance of ensuring security in the DeFi sphere. Vestrans said it is committed to learning from what happened and strengthening the platform's defenses to prevent similar cases in the future.
To prevent further losses, the Vestrans team promptly locked the locked staking contracts by voting for four of the seven delegates. This decision stopped interaction with contracts, excluding 755,631,188 $VSTR from circulation, however, users can no longer withdraw funds from locked pools.
The company is aware of the impact of the incident on users and assured that all funds will be redistributed among their rightful owners. The team is currently working on creating a plan to solve the problem, the details of which are promised to be presented in the coming days.
Vestrans representatives expressed their gratitude to the community for their support during this difficult period. The company is proud of the cohesion of its users and intends to make every effort to minimize the consequences of the attack and stabilize the situation.
Despite the volatility of the token rate, Vestrans is confident that the situation will soon stabilize. The company continues to implement its mission to create a sustainable project based on the Ethereum blockchain, emphasizing its reliability and potential.
The incident highlighted the importance of ensuring security in the DeFi sphere. Vestrans said it is committed to learning from what happened and strengthening the platform's defenses to prevent similar cases in the future.