79th Vault said its 79AU token was attacked on Oct. 7 because of a flaw in account permission management. According to the team, the attacker obtained the operator’s private key, used those permissions to extract tokens from the contract, triggered a brief abnormal price spike, and then swapped the assets on-chain into USDT and later into BNB. The project said emergency fixes have been applied to the affected permissions and contract operations, and a risk-control review has already been carried out. It also said the attacker address has been identified and the stolen funds are still being tracked. Separately, 79th Vault said it has offered the attacker a white-hat settlement under its bug bounty framework, and that the other side has responded, with negotiations still under way. The team added that it is working with relevant exchanges, blockchain security firms and other parties to pursue lawful and practical ways to recover the stolen assets. Foresight News had previously cited Defimon Alerts as saying the incident on BNB Chain may have led to losses of about $12.5 million due to a private key leak.
79th Vault said its 79AU token was attacked on Oct. 7 due to a flaw in account permission management. The team said the attacker obtained the operator’s private key and used the related permissions to pull tokens from the contract, causing a brief abnormal rise in price before swapping the assets on-chain into USDT and then into BNB.
The project said it has completed emergency fixes to the relevant permissions and contract operations, and has also conducted a risk-control review. It added that the attacker address has been identified, while the stolen assets are still being tracked.
79th Vault also said it has proposed a white-hat settlement to the attacker under its bug bounty framework. The attacker has replied, and negotiations are still ongoing. At the same time, the team said it is working with relevant exchanges, blockchain security companies and other parties to look for lawful and practical ways to recover the stolen funds.
Foresight News previously reported, citing monitoring by Defimon Alerts, that 79th Vault on BNB Chain may have lost about $12.5 million in the incident, possibly due to a private key leak.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
