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- The team has also contacted the hacker to explore potential recovery options.
- Shortly after the incident was identified, the alleged wallet transferred $30,000 USDC.
An estimated $1 million attack led to the suspension of the smart contract for Cypher Protocol, a decentralized futures exchange built on Solana. On August 7th, Cypher informed its users via Twitter that the platform had experienced a security breach and had temporarily halted its smart contract.
The team has also reached out to the hacker to discuss the potential return of the stolen funds and is investigating the source of the vulnerability. Data from the Solana blockchain explorer Solscan indicates that the wallet linked to the breach acquired approximately 38,530 SOL tokens and $123,184 USDC, totaling $1,035,203.
Shortly after the breach was detected, the alleged wallet transferred $30,000 USDC to the Solana USDC address “kiing.sol” on the Binance cryptocurrency exchange, indicating an attempt to withdraw the stolen funds.
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Contact Attempts Have Not Been Successful
Since the vulnerability was identified, numerous NFTs have been sent to the wallet, requesting their recovery. Additionally, as of the time of publication, the suspected hacker has not moved any assets from Solana to the Ethereum network.
Furthermore, the attack occurred while Cypher Protocol and Solana protocol Marginfi were hosting the mtnDAO hacker house event. In a message distributed via Telegram, Marginfi stated that it is functioning independently of Cypher and remains unaffected by the cyber incident.
Regrettably, the Cypher team has not yet succeeded in establishing contact with the hacker. The team has shared a list of potential methods to reach out to the perpetrator in their latest update. CMC reports that the current price of SOL stands at $23.17, reflecting a 0.14% increase over the past 24 hours.
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