"FEG token holders in despair after third hack causes 99% dump"
Primary Source ↗Incident Details
The “Feed Every Gorilla” project has once again been hacked, after suffering a pair of flash loan attacks in May 2022 amounting to $1.9 million in losses. The protocol also suffered losses later in 2022, thanks to an issue with a token locking service that cost FEG $2 million (though around $1.9 million was ultimately returned by the exploiter).This time, the FEG project team blamed an issue with the project’s bridge, which is a tool used to deposit and withdraw tokens from the project. An attacker was able to maliciously withdraw a large amount of FEG tokens via the flaw in the bridge, which they then sold off for around $1.07 million, tanking the FEG token price by 99% in the process. The bridge had been audited by the PeckShield blockchain security firm.
Total loss estimated at $1,070,000.
Technical Details
- Initial Attack Vector
- Flash loan attack on smart contract
- Vendor / Product
- Feed Every Gorilla
Timeline
- 2024-12-29 Breach occurred
- 2024-12-29 Publicly disclosed