DeFi project SafeMoon’s liquidity pool (LP) gets compromised with the attacker snatching around 27,000 BNB, approximately $8.9 million. Celebrities like Jake Paul, Lil Yachty, Soulja Boy, and many more have previously promoted SafeMoon.
Blockchain security firm PeckShield later revealed that the recent SafeMoon contract upgrade reportedly contained the exploited public burn bug.
PeckShield even suggests the possibility of an admin key leak which eventually led to the compromise of SafeMoon.
SafeMoon CEO John Karony aka Captain Hodl took to Twitter to provide information on the aftermath of the incident.
“In the hours since, our team has met with key advisors to agree a plan that protects token holders and the community. We have located the suspected exploit, patched the vulnerability, and are engaging a chain forensics consultant to determine the precise nature and extent of the exploit,” Karony tweeted.
The compromise reportedly affected the SFM:BNB LP pool. Karony added that none of SafeMoon’s upcoming improvements or releases, nor any of the other LP pools on the DEX, have been impacted.
Meanwhile, the exploiter has left an on-chain message for SafeMoon. “Hey relax, we accidently frontrun an attack against you, we would like to return the fund, setup secure communication channel, lets talk.”
The exploiter later transferred 4000 BNB, around $1.2 million to an address. SafeMoon is yet to respond to these events.
The celebrities who endorsed SafeMoon were hit by a lawsuit last February that alleged that Jake Paul, Soulja Boy, Nick Carter, Ben Phillips, Lil Yachty, etc brought in investors with misleading promotions.
Also Read: Dave Portnoy Sued by SafeMoon Investors for Pumping Coin