• +31 320-760020
  • support@yokdata.com

Akropolis cryptocurrency lending service lost $2 million to hackers in a cyber attack

Posted on Nov 16, 2020
Akropolis cryptocurrency lending service lost $2 million to hackers in a cyber attack

Despite being around for years, securing cryptocurrency assets continues to be a challenge. Hence, joining the list of cryptocurrency attack victims, Akropolis emerges as the latest target.
Reportedly, hackers stole $2 million worth of assets from Akropolis cryptocurrency service in a recent cyber attack.

Cryptocurrency lending and borrowing service Akropolis has recently suffered a cyber attack. The hackers managed to infiltrate their systems and steal $2 million worth of cryptocurrency assets. According to Acropolis, the service faced a ‘flash loan attack’ earlier this week. In a flash loan attack, the attackers apparently enter the system to loan funds. Later, they meddle with the code or use known exploits to bypass the loan process and steal funds.

Following the incident, Akropolis involved two independent firms to audit the pools. Also, as they investigated the matter, they confirmed that all other pools, except Curve Y and Curve sUSD pools, remained unaffected. Moreover, they also informed other exchanges and involved security experts for resolution. 

Besides, to avoid such incidents in the future, they have fixed the vulnerabilities. The patches include implementation of a check on the incoming tokens and applying Reentrancy Guard to block re-entrance attacks.

Full article on https://latesthackingnews.com/2020/11/14/akropolis-cryptocurrency-lending-service-lost-2-million-to-hackers-in-a-cyber-attack/

#cyberattack #akropolis #lending #cryptocurrency #mindyourdata #yokdata #blog