Home > NEWS > AllianceBlock Token Plunges 51% After $5M Exploit of Bonq DAO

AllianceBlock Token Plunges 51% After $5M Exploit of Bonq DAO

New ALBT tokens will be minted and airdropped to the affected wallet addresses.

Internet hackers have long stolen about $5 million worth of Alliance Block (ALBT) tokens on Bonq, according to a statement from Alliance Block on Wednesday. Bonq is a decentralized loan contract.

Alliance Block stopped all themed activities on the bridge after the siege broke out in the afternoon on Wednesday. During the attack period, the Polygon wallet accessed 112 million ALBT tokens, transferring them from the Polygon blockchain to the ethernet blockchain technology. Cyber hackers also earned 500000 dollars by selling Bonq Beur tokens.

The team of the agreement will work with the Bonq team to forge a new ALBT token and airdrop token to the affected wallet address.

"the collaborative grid and Banc team, including all relevant partners, are now clearing liquidity and will suspend all exchange trading," the announcement said. "

Collaborative blockchain said that during the attack period, none of its blockchain intelligence contracts were violated or violated, but this did not allay investor anxiety. According to CoinMarketCap, the price of ALBT tokens plummeted by about 51 per cent after the attack.

During the oracle writing network hacker attack period, the attackers also forged 100m Beur tokens and reduced their price to almost zero. According to a representative of Bonq, this in turn led to the settlement of the affected ALBT treasure chest.

by wjb news
© 2023 WJB All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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