Hackers Attack Altcoin Platform

The altcoin platform, which was heavily attacked by hackers due to a vulnerability in its smart contract, lost a large amount of coins.

Decentralized music streaming protocol Audius stated that a hacker stole altcoins from the community treasury using a malicious governance vote. According to security firm CertiK, the hacker changed certain configurations in the smart contract used by Audius' management system. This allowed the perpetrator to become the "custodian" of the contract. The hacker then proceeded to create and approve a management proposal (Proposal #85) requesting the transfer of 18 million AUDIO tokens from the community treasury. Although the market value of these stolen tokens was more than $6 million, the hacker was only able to sell them for 705 Ethereum ($1.1 million) due to the high amount of market slippage. The assets still reside on the hacker's blockchain address. Audius said in a statement that it has identified and fixed the issues with its smart contract, adding that a post-mortem report will be available soon. In the meantime, the smart contract has been paused. Audius is a decentralized music publishing protocol that allows artists to monetize their work using a governance and usage cryptocurrency called AUDIO. Token can be used on Ethereum and Solana networks. Source: Bitcoinsystem The investment information, comments and recommendations contained herein do not constitute investment advice. Investment advisory services are provided on a personalized basis, taking into account the risk and return preferences of individuals. The content, comments and recommendations contained herein, which are in no way directive in nature, are of a general nature. These recommendations may not be suitable for your financial situation and risk and return preferences. Therefore, making an investment decision based solely on the information contained herein may not produce results in line with your expectations.