OlympusDAO Suffer $300K Exploit, White Hat Hacker Returns All Funds
Users of OlympusDAO had a brief scare yesterday. After a hacker made off with 30,000 OHM tokens, equivalent to $300K, and then returned the funds. The hacker, appears to be a white hat. Took advantage of a bug in the smart contract for the new product, OHM Bonds.
According to PeckShield, it appears that the “BondFixedExpiryTeller contract has a redeem() function that does not properly validate the input.” However, the blockchain security company clarified that Bond Protocol wrote the affected smart contract. OlympusDAO is a decentralized reserve currency protocol that launched last year. It recently started testing its OHM Bonds product. Following the exploit, the DAO informed members of the hack in the Discord server.
Source
https://t.me/DeFi_Ethereum
