Cryptocurrency
[loss] $324,000
Tweet by PeckShield
Primary Source ↗Financial Loss
$324,000
(324,000 USD)
Blockchain(s)
Ethereum
Incident Details
Uwerx is a nascent project intending to build a blockchain-based freelancer marketplace, because what better concepts to combine than blockchains and the gig economy? Sadly for them, just after completing their token presale, it was hit with a flash loan exploit that enabled an attacker to siphon 176 ETH (~$324,000) from the platform.The project was audited by SolidProof and InterFi. The project announced that they intended to relaunch the token, and asked the exploiter to consider returning 80% of the funds, keeping 20% as a “bug bounty”.
Total loss estimated at $324,000.
Technical Details
- Initial Attack Vector
- Flash loan attack on smart contract
- Vendor / Product
- Uwerx
Timeline
- 2023-08-02 Breach occurred
- 2023-08-02 Publicly disclosed