AllianceBlock Suffers $5 Million Hack
AllianceBlock, a decentralized borrowing protocol, has suffered a major hack resulting in the loss of $5 million worth of ALBT tokens. The attack occurred Wednesday afternoon, when a Polygon wallet accessed 112 million ALBT tokens and 500,000 USDC from dumping BEUR tokens. In response, AllianceBlock has paused all activity on its bridge. This attack serves as a reminder of the importance of security measures in the blockchain space, and AllianceBlock is taking steps to ensure that similar incidents do not occur in the future.
AllianceBlock and Bonq Teams Take Action to Remove Liquidity and Halt Exchange Trading
The AllianceBlock and Bonq teams, along with their partners, are taking action to remove liquidity and halt exchange trading. To ensure that all affected wallet addresses are compensated, the protocol‘s team and that of Bonq will mint new ALBT tokens and airdrop them to the affected wallet addresses. This move is part of the teams‘ commitment to protecting the interests of their users and ensuring that the trading environment remains secure and reliable. The teams are also working to ensure that the trading environment remains secure and reliable for all users. With this move, the teams are demonstrating their commitment to protecting the interests of their users and ensuring a secure and reliable trading environment.
AllianceBlock Suffers After Oracle Hack
AllianceBlock, a decentralized finance (DeFi) platform, recently suffered a major setback when an oracle hack caused its ALBT token to plunge roughly 51%. The attack also resulted in the minting of 100 million BEUR tokens, which decreased their price to almost zero and triggered the liquidation of the affected ALBT troves. Although AllianceBlock has stated that none of its smart contracts were breached or compromised, investors remain concerned about the security of the platform. As a result, the ALBT token‘s price has been significantly impacted, and the DeFi platform is now working to restore investor confidence.
