According to reports by Cointelegraph, Mobius Token ($MBU) suffered a significant blow after hackers exploited vulnerabilities in its smart contracts on the BNB Chain, resulting in a loss of over $2.15 million. The breach, detected on May 11, saw the attacker swiftly draining funds from the victim’s wallet using malicious transactions.
Hack Details
The security firm Cyvers Alerts identified that the attacker executed the exploit by deploying a contract from address 0xb32a53 at 07:31:38 UTC and commencing the attack at 07:33:56 UTC. By leveraging contract 0x631adf, the hacker managed to siphon a substantial amount of 28.5 million MBU tokens, converting them into stablecoins and causing a staggering loss of $2,152,219.99 for the victim.
Aftermath and Response
As of the latest updates, the attacker’s wallet remains active, holding onto the stolen funds while the Mobius Token team is yet to issue an official statement addressing the breach.
Conclusion and Community Alert
The cyber breach on Mobius Token serves as a stark reminder of the persistent threats faced by decentralized platforms and the importance of robust security measures in safeguarding user assets. Users and investors are advised to stay vigilant and exercise caution amid such incidents.
#Cryptocurrency security breach, #Mobius Token hack, #BNB Chain exploit