Hacker Pulls $86,000 in Locked Tokens From a Shared Crypto Vault
BeInCryptoLockridge Okoth
A hacker drained about $86,000 from UNCX Network’s shared token vesting pool on Ethereum on Wednesday, taking tokens other projects had locked away. Security firm Blockaid said the attack was still running. UNCX, formerly UniCrypt, sells crypto projects a way to lock up their own tokens so insiders cannot sell early. Its contracts hold about $179.7 million across blockchains, with $111.4 million on Ethereum. How Did the Attacker Withdraw Tokens Belonging to Others? Blockaid said the loss came through a single draining transaction. Many projects’ locked tokens sit together in the same pool. The attacker first opened several vesting positions there. A vesting position is a slot that holds tokens and releases them on a set schedule.
Reported by BeInCrypto. You are reading an excerpt. The full story is on their site.
Read it at BeInCrypto- Filed under
- Hacks & Scams
- First seen
- Reported by
- BeInCrypto
Before you act on it
A listing, a launch or an airdrop is not a reason to buy. Check the contract address on the project's own site. Never sign a transaction or hand over a seed phrase to claim anything.
