According to Etherscan, on October 11, TempleDAO, a protocol that provides stable income through stacking, had one of its vaults hacked, holding 1,830 ETH worth approximately $2.3 million.
A TempleDAO employee said in a channel on Discord that CORE vaults holding more than $100 million worth of Stablecoins were not affected. In addition, the team will generate lists of all affected users.
According to a statement issued by TempleDAO, the attacker stole 1,418,303 TEMPLE or 1,362,438 FRAX. The recipient address is linked to a Binance account that received 1.1 ETH about an hour and a half before the hack.
The TempleDAO hack was caused by a smart-contract vulnerability and is not related to any bridge, blockchain security firm Paladin said.
The problem stemmed from several abuses in one of the stacking features that allowed users to transfer stacking tokens from the old contract. A hacker used this feature with a fake address that sent funds from the vault instead of the new contract.
According to Paladin, the contract used was deployed more than 100 days ago, and the vulnerability has been present since it was deployed.
Immediately after the theft, the TempleDAO token briefly dropped 20%; this occurred when TEMPLE was exchanged for FRAX.
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