October 31,  2022

By Zubi

In 2022, October Ends Up Being the Month With the Most Crypto Hacks

Another Significant Crypto Hack, But Not All Is Lost

The event was being investigated, and Moola Market announced that platform activities had been paused.

Hacken, a web3 security company, looked into an attack and discovered that $9.1 million had been taken from the CELO blockchain network.

According to Hacken, the attackers used CELO tokens to fund the account and then used it to purchase a sizable number of MOO tokens

Low liquidity caused the price of $MOO to start rising, raising the value of the collateral.

The attacker next borrowed $CELO and put up $MOO as security; following that, $CELO was changed back to $MOO, and the cost of $ MOO steadily rose.

The cost of the $Moo token climbed from $0.018 to $0.65 by repeating this cycle. These increased costs led to the taking out of huge loans.

In a tweet, Moola Market stated that it has reached out to law enforcement and is prepared to discuss a reward. Following today's event, 93.1% of the monies have been transferred back to the Moola governance multi-sig., they update.

Offer Free Donation Pick Up by 8 Charities That