Today, many people invest in cryptocurrencies. However, there are thousands of cryptocurrencies on the market right now. However, it is debatable whether these are all reliable projects.
So much so that today a security vulnerability was detected in an altcoin. Malicious people who took advantage of this vulnerability made millions of dollars profit. Here are the details…
Vulnerability Detected in This Altcoin
Blockchain analytics and security firm PeckShield Inc. He announced a big hit with a post he made today. So much so that millions of dollars worth of BNB was stolen as a result of a vulnerability in an altcoin called Titano Finance.
According to PeckShield, the Titano Finance collateral protocol has been abused recently. As a result of the attack, 4,828.7 BNB was stolen, worth a total of $19 million.
It was also found that the attackers initially held the stolen funds at 0xAd9217e427ed9df8A89E582601a8614FD4F74563. Currently, it is known that the stolen funds are divided into 23 different addresses.
However, the project managers announced that they got back the funds lost in the attack, with a statement made minutes ago.
Price Dropped 80%
As a result of this attack, there was a great loss in the price of the altcoin. So much so that this altcoin called Titano Finance was traded at $0.18 just before being abused by the attackers, and fell sharply right after the attack.
Titano Finance, which started a sudden decline in the past hours, declined to $ 0.003 levels. Titano Finance lost 80% of its value in just minutes with this attack.
Afterwards, the price recovered somewhat and is currently continuing to rise again.
As of the time of writing, Titano Finance continues to trade at $0.11, down 40% in the last 24 hours, according to CoinMarketCap data.