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ID:

cover-protocol-420

Date:

Status:

Incident Count:

December 28, 2020

Verified

1

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REKT

Contributor:

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zerofriction.io

KYC By:

KYC:

None

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Audit By:

Audits:

MixBytes, Arcadia Group, Peckshield, Maxsam

Loss Amount:

9,400,000

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Recovered:

3,200,000

Rewards:

Currency:

USD

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The decentralized finance (DeFi) insurance project Cover Protocol was hacked earlier Monday in an infinite printing scheme, causing the price of the COVER token to plunge. Hours later, Grap.Finance, a "white hat hacker" claimed responsibility for the attack via their Twitter account, saying all funds had been returned. The exploiter has cashed out over $4 million including about 1,400 ethereum, one million dai and 90 WBTC. The attacker earlier created 40 quintillion COVER tokens and sold $5 million worth of them on Monday morning. More than $3 million has been returned.

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