Cryptocurrencies

DeFi Akropolis project hacked for $ 2 million – Cryptocurrencies

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The numbers for 2020 for hacks in the cryptosphere are down from those for 2019. This good news does not apply to DeFi, which appears to be the preferred target of hackers today.

DeFi Akropolis project says goodbye to $ 2 million in DAI. The bill could be higher for CertiK.

Akropolis farewell, farewell DAI

The DeFi platform Akropolis based at Gibraltar was the victim of an attack leading to the loss of $ 2 million in stablecoins DAI.

The company had tweeted on November 12, 2020, to reveal the hack that had been executed thanks to a flaw in the savings pool smart contracts.

The tweet specifies that these contracts had been audited twice by the blockchain audit firm CertiK then, by the companies SmartDec and Pessimistic.

Arkopolis reassured users that staking pools were safe. The hack only concerned cash pools Curve Y and SUSD.

According to Etherscan, the hackers would have withdrawn batches of 50,000 USD at regular intervals until the pool was exhausted.

Arkopolis had indicated that this “exploit” had been made possible thanks to a reetrancy type attack from flash loans dYdX.

CertiK needs to be audited

Recordings on Ethereum indicate that the exact amount of the hack is 2,030,850 DAI. The funds were then moved to a new address but, they haven’t moved since.

This attack calls into question the credibility of CertiK. The latter would also have carried out an audit on the loan protocol bXz which suffered 3 attacks during this year 2020.

According to data from CipherTrace, despite a $ 1.8 billion decrease in fraud, theft, hacks on blockchain projects, in the cryptosphere in general, attacks in DeFi are on the rise in 2020.

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Cryptoassets are highly volatile unregulated investment products. No EU investor protection. Your capital is at risk.

The hunt for stolen AIDs is on for Akropolis. KuCoin was able to recover much of the crypto that was stolen from it thanks to the solidarity of the players in the cryptosphere. What is DeFi protocol security auditing really worth? Hackers always seem to be one step ahead of cybersecurity companies – this is the case in the movies, it seems to be the case in reality too. All they need is a specialist in crypto money laundering – vocations could unfortunately emerge in the coming months or years.

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