Cryptocurrency

White hat hacker returns $300k gained from OlympusDAO exploit

Zegex

Blockchain security company Peckshield said a hacker exploited 30,437 OHM tokens (worth about $300,000) from Olympus DAO’s smart contract were sold today at Came back Funds to DAO in 2 transactions.

According to Peckshield, the hacker abused the contract “BondfixedExpiryteller” and could not properly verify the remittance request. The company continued,related Olympus DAO”The BondfixedExpiryteller contract contains a rede () function that does not properly verify the input, causing a loss of about $ 292,000. โ€

The OLYMPUSDAO team has confirmed Exploiting on the Discord channel and revealed that the attacker had leaked funds from the OHM bond agreement using BOND Protocol. The protocol also states that the bug was not found by the auditors, and if the attacker reported through his Immunefi, it may have gained more profits.

The team has over $200 million in bet It was safe on that platform.

CryptoSlate reached out to OlympusDAO and Bond Protocol for comment at the time of writing, but did not receive a response.

Meanwhile, the Olympus community hails the hacker as a white hat.

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