The protocol based on the former Terra is the victim of a hacking hacking is the process of using a computer to manipulate another computer or computer system in an unauthorized fashion. attack that puts users’ funds at risk.
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- Hackers have drained about $2 million USD from the protocol.
- An error in the oracles an agent that finds and verifies information, bridging the real world and the blockchain by providing data to smart contracts for execution of said contracts under specified conditions. is causing the problem.
- 7 months ago, Mirror suffered another hack that was never reported.
Mirror Protocol the set of rules that define interactions on a network, usually involving consensus, transaction validation, and network participation on a blockchain. a decentralized finance protocol (DeFi) based on the ancient blockchain. Earth now called Terra Classic is under a hacking attack that puts at risk millions of dollars in cryptocurrencies of users of the now-deserted ecosystem.
According to a report byThe Block a file containing information on transactions completed during a given time period. Blocks are the constituent parts of a blockchain.The hacking attack has allowed the malicious actors to extract just over USD$2 million so far. The hack was reported in Twitter by the user “ FatMan “who warned thatsi la vulnerabilidad no se corrige para mañana a las 4:00 a. m. ET, todos sus grupos de activos tokenizados estarán en riesgo.
“Un error en el oráculo de precios le dice al sistema que LUNC vale alrededor de 5 UST cuando en realidad está por debajo de un microcentavo. Por [USD]$ 1.000 en LUNC, un atacante ahora puede cargar [USD] $ 1,3 millones en garantía, pero puede obtener activos reales tomando prestado“, explained the user, which was backed up in string data.
Mirror Protocol is being exploited again as we speak, and the devs are completely MIA. So far, the attacker has drained over $2m and counting – the attack will get worse when markets open tomorrow unless the dev team steps in and fixes the price oracle. @mirror_protocol (1/4)
– FatMan (@FatManTerra) May 30, 2022
Mirror under piracy attack
The protocol Mirror as he explains The Block allows users to take long a situation where you buy a cryptocurrency with the expectation of selling it at a higher price for profit later. or short a trading technique in which a trader borrows an asset in order to sell it, with the expectation that the price will continue to decline. In the event that the price does decline, the short seller will then buy the asset at this lower price in order to return it to the lender of the asset, making the difference in profit. positions in technology stocks using synthetic assets (or tokenized stocks). Runs on the old blockchain Earth now called Terra Classic which was replaced by a new one -Terra 2.0- after the collapse of its stablecoin a cryptocurrency with extremely low volatility, sometimes used as a means of portfolio diversification. Examples include gold-backed cryptocurrency or fiat-pegged cryptocurrency. TerraUSD (UST) and its sister token LUNA, now named Luna Classic (LUNC). Despite being archived, the old blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. continues to function.
Mirror Protocol also has its own tokenized versions of other cryptocurrencies, such as mBitcoin for Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. an asset that promises to be pegged to the price of the flagship cryptocurrency.
According to reports, several of the protocol’s major pools have been drained by now. According to the website of Mirror Protocol the tokenized asset pools of Bitcoin , Ether the form of payment used in the operation of the distribution application platform, Ethereum. y Polkadot have been exhausted. In addition, the pooled fund for the token a digital unit designed with utility in mind, providing access and use of a larger crypto economic system. que representa las acciones de Galaxy Digital digital technologies are these electronic tools that have the ability to generate, store or even process data. .
Una brecha en los oráculos
FatMan he toldThe Block which analyzed a variety of transactions to conclude the attack, which it estimates has generated losses of around $2 million. As he detailed, the error appears to have been triggered by an oracle (a The way a protocol collects data, even from the real world). In this case, the oracles obtain data related to the price of stocks and certain cryptocurrencies.
The Block further adds that the problem is that most of the validators that run nodes on the Terra Classic are running an obsolete version of the price oracle. As a result, these nodes are sending to Mirror Protocol misinformation about the price of LUNC. FatMan called to fix this flaw, although he has expressed despair at the lack of responses from developers. The protocol team in question has not issued any statement or comment on these incidents.
Parece que no se hará nada y que el proyecto colapsará mañana con seguridad (también hay otros vectores), así que saca todo tu dinero de Mirror ahora mismo. Dígale a cualquiera que tenga dinero en Mirror que retire y venda sus activos. Muy pronto no quedará nada.
“ This whole Mirror situation is a huge blow to me (and to the cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. space in general), because personally, I really believed that a decentralized decentralization refers to the property of a system in which nodes or actors work in concert in a distributed fashion to achieve a common goal. stock market an area or arena, online or offline, in which commercial dealings are conducted. free of government control was one of the most powerful use cases for this technology. I hate to see it die like this “, Aggregate.
According to reports, the attack in question is several days old although it had not generated losses because the market was closed. A pseudonymous writing under a false name, such as “Satoshi Nakamoto.” user known as “ Mirroruser ” alertó inicialmente sobre el hackeo el 29 de mayo.
7 months ago, there was another silent hacking
This is not the first time the platform a place to buy, sell and store cryptocurrency has come under threat. According to FatMan , quien ha estado manifestando su oposición a la reactivación de Earth 2.0 , Mirror Protocol suffered a hacking attack in October last year. that went unnoticed. The user reported the incident last week and said it had drained USD $90 million to the protocol.
The security the term securities refers to a fungible and tradable financial instrument that carries a type of monetary value. firm BlockSec corroborated the findings of that hacking, even though it Mirror has not commented on the matter.
The news about the hacking of Mirror Protocol also occurs in the middle of the revival of Earth . On Saturday, the new version of the blockchain went live leaving behind the failed UST and distributing new. tokens LUNA among investors.
- New LUNA rises 50%, Bitcoin over USD $30,000, Ethereum a decentralized open-source blockchain with smart contracts functionality. near USD $2,000 and more surprises for this May 30
- Bitcoins sold by Luna Foundation went to addresses with less than 100 BTC, report reveals
- South Korea will now investigate all Terraform employees for UST collapse
Article by Hannah Estefania Perez / DiarioBitcoin
Imagen de Unsplash
