February is drawing to a close, but it never ceases to amaze with events in the field of digital security. Hackers work tirelessly to identify potentially vulnerable projects and attack similar platforms. The Furucombo organization, which is well known to all advanced users of the industry, became a new target for crackers. The hack was reported by representatives of the project. They also estimate the damage at $ 14 million. We will share the details of this event and explain how the hack will affect the users of the project. So let’s get started.
But first, let’s recall the concept of the project, without understanding which further narration is meaningless. Furucombo is definitely an innovative project that deals with cutting edge operations with decentralized projects. The main activity is to provide functionality that will make distributed projects easier to use. For example, a user needs to transfer funds from Uniswap to another decentralized platform. The transaction must happen immediately, and there is no time for reflection. Furucombo takes over all the work.
The tool visualizes the device of a project, which allows you to quickly list tokens. The comfort of using decentralized platforms increases significantly. But here’s the problem – it is precisely such an advanced device that allowed scammers to easily deceive the system. After all, as you know, the more complex the mechanism, the easier it is to spoil it. Below we will tell you exactly how the hackers managed to steal $ 14 million. So read it carefully.
On the intricacies of hacking. How did the criminals work?
Immediately, we note that we are talking about a rather arrogant and well-planned hack. Perhaps a team of hackers was at work. But it is also likely the act of a lone burglar. In any case, this does not negate the masterful approach to the attack. In fact, the scammers simply made the system think that the Aave cryptocurrency has released an update that allows funds to be transferred to third-party wallets. Having caused the failure, the scammers quickly transferred about $ 14 million to their own storage facilities.
A variety of coins were used, from ETH to ERC-20. Which also makes it difficult to find the stolen funds. So far, only one thing is known for certain – the funds are already undergoing the so-called “cleaning”. Using specialized functionality, the cracker changes the numbers of transactions and blocks. That will prevent the project developers from finding the stolen money. Unless the hacker left other digital traces. However, this remains to be seen. So far, the identity of the attacker remains unknown.
Note that the developers have already announced a solution to the security issue. According to them, the potential vulnerability has been fixed. However, in order to avoid a repetition of the problem, users are asked to refuse to make transfers until further instructions. Obviously, developers need to make sure that the protection is perfect. Otherwise, hackers can repeat the attack.
So, what conclusion can be drawn from this situation? The industry is developing, cryptocurrencies now cost a lot of money, attracting the attention of unscrupulous users. More and more hackers see digital coins as an easy way to make money. That is why we strongly recommend that you take responsibility for the safety of your own funds. Be vigilant, carefully check with whom and under what conditions you cooperate. Create complex passwords and don’t forget to enable maximum protection on your own digital storage. This is the only way to avoid the attack.
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