Meter cross-chain protocol hacked for $4.4 million
DeFi cross-chain protocol Meter lost access to cryptocurrency worth $4.4 million due to an attack performed through a vulnerability in the smart contract. The developers of the project announced this on their Twitter page.
According to the project's version, the attacker took advantage of the protocol flaw to create additional BNB and WETH tokens, and took out a reserve for cryptocurrencies. According to the project, the code architecture misinterpreted access rights, which allowed the unknown person to call the ERC20 deposit function to forge a BNB or ETH transfer.
Meter added that it is already working on a refund plan for liquidity providers affected by the attack. Trading pairs with other tokens were not affected by the attack, the developers claimed.
