Private key compromise
Days in Operation:
Giveth is building a culture of giving that rewards and empowers those who give. Beginning with a crypto donation platform on Ethereum, Giveth has created the "GIVbacks program" where donors to for-good projects are rewarded with GIV.
According to the Giveth team, the attacker used the compromised keys to the change the rate of rewards for GIVfarms to a very large number & then quickly claimed the rewards. However, due to limits on the amount of rewards that could be paid out for each farm, the attacker was only able to claim a constrained amount. The total rewards stolen by the hacker was only about 40k USD of $GIV, and 1k USD of $CULT.
The impact address was the address that deployed the token and almost all the GIVeconomy contracts. However, after the launch, the address was removed from being owner and is only used to adjust the rate of rewards for the farms every 2 weeks.
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