DAO Maker Suffers $7M Attack
Main page News, Hacker Attack, DeFi
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12 August
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DAO Maker, a platform focused on redefining venture capital, has suffered a $7 million hacker attack. According to PeckShield analysts, hackers withdrew ~$7 million in the USD coin (USDC) stablecoin and converted the assets into ether (ETH).

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As of press time, there are more than 2,261 ETH at the address allegedly belonging to the hackers. According to the project's developers, a total of 5251 users were affected, losing $1250 USD on average per user. The hacker might have converted the stablecoins in order to avoid freezing them by the Center Consortium, the issuer of USDC.

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The developers noted they have contacted Cipher Blade, a blockchain forensics company, to track down the criminal and return the stolen funds.

As iHodl earlier reported, Poly Network, a protocol of interoperability between multiple blockchains, suffered a massive $611 million hack, which made it the largest hack in a decentralized finance (DeFi) space. The protocol's team wrote on Twitter that the project was attacked not only on the Ethereum network, but also Binance Smart Chain and Polygon.

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