Cross-chain Web3 platform Poolz Finance (POOLZ) lost $390,000 in a March 16th hack, according to a Forkast News report.
Hackers attacked Poolz Finance’s token granting protocol on Binance Smart Chain (BNB) and Polygon (MATIC) chains, Forkast News I got itThis attack was first spotted by a crypto detective pec shieldtweeted the issue to alert Poolz Finance.
PeckShield said:
“Our initial analysis showed that @Poolz__ The hack is due to a classic arithmetic overflow problem that is exploited to drain funds from contracts. “
again tagged A relative bscscan link showing the repetitive code of the attack.
pools finance
Serving as a decentralized crowdfunding platform, Poolz Finance has helped 96 projects to hold their first dex offerings since its inception.
In response to the exploit, Poolz Finance tweeted: To tell They flagged the hacker’s address and completely frozen the porting of all POOLZ tokens on the ChainPort bridge. Pools Finance said:
First, damage. Pancake liquidity is around $200,000. This exact same amount comes from the company’s treasury.
Again, do not trade POOLZ at this time. thank you. “
The team also mentioned creating a new smart contract for POOLZ tokens and airdropping to all addresses registered in the last block before the hack.
POOLZ token
Meanwhile, the POOLZ token registered a -97.25% decline over the last 24 hours. crypto slate data.
POOLZ token was just above $4 before the attack. At the time of writing, it is trading at $2.7864. CryptoSlate metrics also show that the token has lost -10.19% and -96.96% in the last hour and last 7 days respectively.
