Hacker Steals $4.3 Million From DeFi Project Meter
Main page News, Hacker Attack, DeFi
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8 February

Decentralized finance infrastructure (DeFi) company Meter has lost around $4.3 million in Bitcoin and Ethereum as a result of a hacker attack.

According to specialists from the company PeckShield, the attacker has allegedly stolen 1,391 ETH and 2.74 BTC. It should be noted Meter has confirmed the attack.

The attacker has exploited a vulnerability in the automatic "unwrapping" of gas tokens in the protocol, such as ETH and BNB, the company has explained. The project team has said:

"The contract did not block direct interaction of the wrapped ERC-20 tokens for the native gas token and did not properly transfer and verify the correct number of WETH transferred from the callers' address."

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The company has reported it has reinstated the cross-chain bridge operation, updated the smart contracts and hired an external auditor for the protocol code. The company has set aside $4.4 million in MTRG tokens to pay compensation to victims of the attack.

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