Hacker Steals $25 Million From DeFi Protocol xToken
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13 May
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Decentralized finance protocol xToken has lost $25 million as a result of a hacker attack, the project has reported on its official Twitter account.

The developers of xToken have reported the attack took place yesterday at around 16:44 CET. Experts realized 10 minutes later there were "discrepancies in price and supply" and suspended the operation of smart contracts.

The attacker has reportedly used flash loans to steal $25 million and has already exchanged the stolen funds for Ether (ETH).

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In particular, the hacker immediately emptied the xBNTa and xSNXa liquidity pools. The BNT and SNX tokens remained in the xToken contracts. The hacker extracted 416 ETH from the xSNX contract as it holds Ethereum as part of a debt hedging strategy.

Bancor and Balancer liquidity pools lost assets worth about $25 million.

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