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ID:

umbrella-network-299

Date:

Status:

Incident Count:

July 11, 2021

Verified

2

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REKT

Contributor:

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zerofriction.io

KYC By:

KYC:

None

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Audit By:

Audits:

None

Loss Amount:

235,510

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Recovered:

-

Rewards:

Currency:

USD, UMB

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According to official sources, the DeFi oracle Umbrella Network was stolen over 3 million UMB tokens due to a loophole in the ChainSwap contract of the cross-chain asset bridge. This equates to approximate 110 ETH as noted in terms of the $UMB token buyback scheme initiated to counteract the additional $UMB sold by the hackers. As of 15th of July, Umbrella has already bought back about 90 ETH worth of $UMB, with a remaining 20 ETH still to be spent.

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