DeFi Protocol Stake Steak Suffers Exploit Vulnerability
Main page News, Smart contracts, Hacker Attack, DeFi
Hot topic
Oct. 4, 2021

Stake Steak, a decentralized finance (DeFi) protocol based on the Fantom blockchain network, has suffered an exploit vulnerability triggering the native token STEAK falling down by over 85%. As of press time, the token is trading at $0.61. According to reports, an unknown party issued over 140,000 STEAK tokens via the Steak Deployer contract.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

DeFi Protocol Stake Steak Suffers Exploit Vulnerability
Tajikistan Central Bank Slams Fantom Over Fake Partnership

Later, the bad actor sold STEAK tokens for wrapped fantom (WFTM) and sent the fund through Anyswap Network, a protocol that bridges assets between Layer-1 and Layer-2 platforms, to Tornado Cash, a complex token mixer. Officially, the Stake Steak has not clarified on how exactly a hacker has gained access to a private key of the Steak Deployer contract.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.

Read also:
Please describe the error