Price Crashed 99 Percent: This NFT Coin Has Been Hacked!

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There was a hacking event in a coin project focused on the non-fungible token (NFT) field. After that, the price of the token dropped from $ 530 to $ 1.41, showing a decrease of close to 99 percent. The NFT coin project was attacked.

NFT coin project attacked

In recent months, Illuvium (ILV) game has become the target of many NFT players due to its well-structured environment and interesting reward mechanism. But the gaming ecosystem also includes other tokens, one of which is Escrowed Illuvium (sILV). On January 4, Illuvium announced that they have found a vulnerability in their staking contracts, and therefore eDAO is temporarily suspending the publication of SILV. The Illuvium team later said that the vulnerability was fixed in staking V2 contracts. According to the team, the attack vector was shut down and no resources were compromised.

But even after taking all protective measures, Escrowed Illuvium was attacked; As a result, the siLV token price dropped from $530 to $1.41. The native token of Illuvium (ILV) also felt the impact of the drop and fell from $ 900 to $ 800. The hacker did his attack before the Illuvium team updated the network; He was able to pocket 8000 siLV and 452 Ethereum. Illuvium claims that the siLV pool was never an official Illuvium product.

Illuvium also explains that the actual owners of siLV will issue the necessary refunds once they receive the images of the assets in their wallets. The SILV repository has never been an official repository, but the team also noted that they are investigating the issue and will provide updates as soon as possible.