Cryptocurrency [loss] $435,203

"Cypher Protocol freezes smart contract after an estimated $1M exploit"

2023-08-07 [vendor] Cypher protocol [chain] solana
Primary Source ↗
Financial Loss $435,203 (435,203 USD)
Recovered $600,000
Blockchain(s) Solana

Incident Details

The Solana-based Cypher protocol, a decentralized futures exchange, froze its smart contract after an attacker stole a little more than $1 million in Solana tokens and the USDC stablecoin.The project attempted to contact the hacker to negotiate the return of some of the funds. Meanwhile, various community members sent NFTs to the attacker wallet, requesting the return of the funds. One of them tried to convince the hacker, writing that they believed the attacker’s identity could be discovered because they used centralized exchanges with KYC to try to withdraw funds. Another simply said “give it back you shitlord”.

Total loss estimated at $435,203.

Technical Details

Initial Attack Vector
Smart contract exploit / hack
Vendor / Product
Cypher protocol

Timeline

  1. 2023-08-07 Breach occurred
  2. 2023-08-07 Publicly disclosed