MAYAChain exploit

[Oshosondy]

Another exploit again as usual.

20 BTC worth $1.4 million and other tokens worth $300 has been stolen from the decentralized exchange protocol MAYAChain, today.

https://x.com/i/status/2089792721086996703

CACAO fall from around $0.115 to $0.013 before recovering.

[JeromeTash]

The way these attackers carry out this hack is pretty scary. It's like it's more of an insider job or getting a lot of help with AI. I just read the MAYAChain Trade Account Exploit and wondered how some could discover and exploit all 6 critical bugs without any help.

The attacks are not just about to stop. I think there is a group of hackers going after different projects.

[BitMaxz]

Despite the fact of having bad news like this, Bitcoin still jumps to the moon. Well, 20 BTC is too small to get some impact on the Bitcoin price.
It's my first time hearing MayaProtocol. By checking the data from CoinGecko and CoinMarketCap, it seems CACAO has no records of where to trade this. It's not listed on major exchanges.

I think this is just an inside job or something to get attention from people or use it for FUDs.

[fullfitlarry]

Another exploit again as usual.

20 BTC worth $1.4 million and other tokens worth $300 has been stolen from the decentralized exchange protocol MAYAChain, today.

https://x.com/i/status/2089792721086996703

CACAO fall from around $0.115 to $0.013 before recovering.

I thought that it's one of our local wallets as we have MAYA in the Philippines. In any case, 6 bugs where found? That is really a failure of those who review the code. Nothing is really safe now, specially with how AI has advanced and being used by criminals themselves to exploit everything in crypto projects.

Regardless if this is a inside job or really a hack, it doesn't matter, what matter most is this project will have review their code or even use the same technology that criminals are using before they find it out.

[yhiaali3]

Another unfortunate piece of news, unfortunately hardly a day goes by without us hearing about a new hack, exploitation of a software vulnerability, or phishing attack, especially in decentralized protocols. I wonder if hackers have become smarter while developers are asleep?

I read some details of the hack and it turned out that the hacker exploited a series of successive errors amounting to about 6 software vulnerabilities. Since the protocol is decentralized, it is designed to work automatically according to the probabilities that the developers had previously set. Because the hacker is smarter than the developers, the hacker created probabilities that did not occur to the developers, which led to a series of small and interconnected errors in the protocol's operating logic.