{"id":203127,"date":"2021-03-16T05:37:24","date_gmt":"2021-03-16T02:37:24","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/hacker-makes-off-with-5-7m-after-ransacking-social-token-platform\/"},"modified":"2021-03-16T05:37:24","modified_gmt":"2021-03-16T02:37:24","slug":"hacker-makes-off-with-5-7m-after-ransacking-social-token-platform","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/hacker-makes-off-with-5-7m-after-ransacking-social-token-platform\/","title":{"rendered":"# Hacker makes off with $5.7m after ransacking social token platform"},"content":{"rendered":"

“# Hacker makes off with $5.7m after ransacking social<\/a> token platform <\/strong>”
\n<\/p>\n

Social token platform Roll suffered a hot wallet breach, resulting in hackers draining at least 3,000 ETH worth $5.7 million on March 15.\u00a0<\/p>\n

At roughly 8am UTC, digital asset management platform MyCrypto reported<\/a> that a hacker may have compromised the private keys for Roll\u2019s hot wallet, allowing them to transfer funds from users\u2019 accounts at will. <\/p>\n

After app<\/a>roximately 12 hours, Roll responded<\/a> to the attack, announcing the hacker had stolen and liquidated a large number of tokens, and that withdrawals had been suspended across the platform: <\/p>\n

\u201cThe attacker has sold all the tokens. There is no further user action suggested.\u201d <\/p><\/blockquote>\n

Roll added that it had launched a $500,000 fund to \u201chelp creators and their communities” affected by the incident.<\/p>\n

The attacker stole 11 different social tokens, including $WHALE, $RARE, and $PICA. The stolen funds were then transferred to Tornado Cash, a privacy tool often used by hackers to launder stolen funds. The hacker then traded the tokens for Ether on the popular decentralized exchange, Uniswap.<\/p>\n

Markets for the tokens stolen in the breach began to dump within hours of the attack, quickly accumulating losses of more than 90%. Some of the worst-hit included $PICA, $WHALE, and $FWB, who plummetted 99.6%, 99.3%, and 92.35% respectively. <\/p>\n

As a result of the attack, the market cap of social tokens on the platform fell from $1.5 billion as of March 12 to $365 million as of this writing.<\/p>\n

With only 2.17% of its supply compromised<\/a>, $WHALE was one of the only tokens to quickly recover, trading above $30 at the time of writing. <\/p>\n

A social token is an ERC-20 token users can create on platforms like Roll in order to engage with their community or sell assets.<\/p>\n

Roll\u2019s reaction to the breach has garnered mixed reactions on Twitter, with the $500k fund receiving particular attention. <\/p>\n

\n

500 000$ fund??
I’m a creator and our community just lost EVERYTHING..<\/p>\n

The $PICA<\/a> just went to 0…
I lost like months of salary<\/p>\n

As smaller creative communities we just expect more than this.. Hoping for a full refund. Confidence there will be seriously damaged either way<\/p>\n

\u2014 Maxime Hacquard (@HacquardMaxime) March 14, 2021<\/a><\/p><\/blockquote>\n