Home
News
- The recent hacks at bZx have led to many people questioning the DeFi (decentralized finance) system.
- An analysis from Peckshield security shows that the hackers attacked bZx on the night of 18th February with an address starting with 0xb8c6ad and managed to steal 2378 ETH.
- Peckshield has warned the users to be careful while investing in digital assets as they could be stolen, and their money would be gone.
The recent hacks at bZx have led to many people questioning the DeFi (decentralized finance) system. There has been some new news regarding the bZx hacks that happened recently.
The Tokenized margin trading and lending platform bZx was hacked recently. During the previous week, when the hacks took place, the perpetrators managed to steal $350,000. This amount is nearly 2% of the value of assets present on the platform.
To execute this hack, the criminals exploited some of the Defi protocols and managed to steal the money by only incurring an $8 transaction fee.
Now, with the data provided by CoinHolmes, a company which provides visualization of digital assets as well as their tracking, showed that a couple of transactions occurred at 03:43 UTC and 04:15 on 20th February on the hackers’ account.
These transactions were done on address, starting with 0xb8c6ad. During the first transaction, the hacker transferred 1 ETH to a new address that begins with 0x6b5a, followed by a transaction of 2370 ETH. At the moment, the original address has got 18 ETH.
An analysis from Peckshield security shows that the hackers attacked bZx on the night of 18th February with an address starting with 0xb8c6ad and managed to steal 2378 ETH. These transactions show that hackers are involved in money laundering.
As Peckshield is keeping an eye on the movement of the stolen funds, the reason behind this transfer is still a mystery. Peckshield has also warned the users to be careful while investing in digital assets as they could be stolen, and their money would be gone.
They have also asked for exchange firms to mark these addresses and help in freezing the stolen funds as soon as possible. As for the future of bZx, they are going to increase their security measures.
They are going to release a plan to refund the money stolen from their customers. Following the attack, trading on bZx has been suspended until further notice.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
