XCarnival victim of $3.8 Million Attack

NFT lending platform hit with exploit

There has been a hack reported on X Carnival Lab an NFT lending protocol. this attack was on June 26, the hacker managed to drain Ethereum tokens from the protocol in the amount of 3087 ETH ,which is around $3.8 million.

This exploit now joins many other ex-s happen over the past few months the ongoing recession across the crypto space does not seem to be stopping hackers from targeting protocols at all.The heck is made possible by a withdrawn plays in a NFT being allowed to still be used as collateral, then the hacker exploited that by draining the assets from the pool. 120 ETH stolen by the hacker was laundry through tornado cash which is a tool used by hackers to hide Tracy’s of token transfers. This exploit was confirmed by XCarnival lab The team then went on to suspend their smart contracts meaning that all deposits in Barney actions were temporarily not supported.

The team then went on to suspend their smart contracts meaning that all deposits and barn actions were temporary not supported.The team of XCarnival we’re willing to offer the hacker 1500 ETH for the return of the stolen Ethereum,and also promise not to press charges if the funds are returned. There was a report from a Twitter user that the hacker excepted the offer and returned half of the funds.

once again this is not the first time an exploit has happened on a cryptocurrency market. Many hacks and exploits have been found. The cryptocurrency market has been in a bit of a struggle for the past few months with $2 trillion being lost since November of last year the DeFi market has been a large target for hackers and even the best DeFi apps have not been spared.

this attack comes on the tail of the Horizon Bridge to the Harmony layer one blockchain attack, Which resulted in $100 million worth of loss of different altcoins. all of these attacks of course have raised the concerns over security as most of these platforms were not capable of keeping their users information and wallets safe.

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