AirDAO Continues to Monitor Stolen Funds Following a Social Engineering Attack
AirDAO, a blockchain platform governed by the community, suffered a major setback when it fell victim to a sophisticated hack. The breach resulted in the theft of 35.2 million AMB tokens and 125.51 ETH from its AMB/ETH Uniswap liquidity pool.
The hack was carried out through an advanced social engineering attack, with the perpetrators exploiting vulnerabilities within the platform to gain unauthorized access. By using deceptive email tactics that imitated legitimate partners, the hackers managed to breach AirDAO’s network security and cause significant losses.
The stolen funds were quickly traced to various cryptocurrency exchanges, including MEXC Global, KuCoin, and ChangeNOW. On-chain data revealed that the assets had been transferred to platforms such as Binance and BitMart.
Despite the severity of the breach, AirDAO took immediate action by collaborating with exchanges and relevant authorities to monitor, track, and recover the stolen assets. Importantly, AirDAO assured users that the breach only affected the liquidity pool, and that user funds on the AirDAO blockchain and exchanges remained secure. The AirDAO Treasury, which is stored in a multi-signature wallet, remained impervious to the attack as it requires multiple signatures for any transactions.
In an effort to retrieve the stolen funds, AirDAO offered a 10% white hat bounty to the hackers if they returned the assets promptly. However, the platform made it clear that legal consequences would follow if the perpetrators failed to comply.
Surprisingly, the hack had little impact on the market sentiment towards AMB, AirDAO’s native token. At the time of reporting, AMB was trading at $0.01253, representing a 4.14% increase from its usual price.
Looking ahead, AirDAO remains committed to strengthening its security measures. It plans to reintegrate liquidity into Uniswap pools and enhance the platform’s resilience to future threats.
Despite the adversity, AirDAO stands firm in its determination to protect its community and build a secure and prosperous future.