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"Why the crash of crypto token 'titan' that burned Mark Cuban may not foretell a bitcoin plunge"

2021-06-16 [vendor] Titan stablecoin
Primary Source ↗

Incident Details

The cryptocurrency “titan” dropped from $65 to $0.000000024 within a few hours, despite being a stablecoin that is supposed to be much less volatile than most cryptocurrencies. As the price began to drop, the smart contract encountered a bug that prevented investors from selling their holdings. Among those burned by the coin’s crash was billionaire investor Mark Cuban, who had blogged about the token only days prior.

Technical Details

Initial Attack Vector
Smart contract vulnerability exploit
Vendor / Product
Titan stablecoin

Timeline

  1. 2021-06-16 Breach occurred
  2. 2021-06-16 Publicly disclosed