Cryptocurrency
[loss] $3M+
"Crypto project PAID exploited, attacker gains over 2,000 ETH after minting nearly $160M in tokens"
Primary Source ↗Financial Loss
$3.0M
(3,000,000 USD)
Blockchain(s)
Ethereum
Incident Details
A contract exploit allowed a hacker to mint almost 60 million PAID tokens (priced at around $160 million based on the value before the attack) on the PAID Network. The hacker then made off with about $3 million in Ethereum from their efforts. The attack caused the PAID token to crash about 88% in value over the course of a day, from around $2.86 to $0.32.
Total loss estimated at $3,000,000.
Technical Details
- Initial Attack Vector
- Software bug / unintentional loss
- Vendor / Product
- PAID Network
Timeline
- 2021-03-05 Breach occurred
- 2021-03-05 Publicly disclosed