BlastOff Future Yield Minter Vault Exploited

  blockchainreporter.net 47 m

BlastOff disclosed a security breach in their Future Yield Minter Vault earlier today, resulting in the exploitation of approximately 150. The company has taken immediate action, temporarily disabling staking in the affected pool and launching an extensive investigation to unravel the details of the incident.

Important.

Our Future Yield Minter Vault has been exploited for around 150eth. We have disabled staking in that pool, are deep in thorough investigations and will release more information in due course in order to provide full transparency. We’ve also onboarded 2 large auditors…

— BLASTOFF (@blastozone) March 11, 2024

To address the situation transparently, BlastOff has engaged the services of two prominent auditors to conduct a thorough examination. The company is committed to providing a comprehensive update on the incident as soon as the investigations are complete.

BlastOff reached out directly to the hacker through a public message, inviting them to communicate via email at [email protected]. The company expressed a willingness to offer a 20% white hat bounty, emphasizing the importance of finding a resolution to the situation.

CEO Takes Responsibility

Despite the setback, BlastOff reassured its community by announcing that the CEO has stepped up to repay all affected users. Currently, all USDB has been successfully returned, and ETH deposits have been refunded with an additional bonus. However, there remains one outstanding case with the user associated with the wallet address 0x924…bb0, and BlastOff encourages them to reach out promptly.

While acknowledging the severity of the situation, BlastOff assures users that the incident will not disrupt ongoing operations. The company is committed to maintaining stability and resilience throughout the recovery process.

The company pledged to conduct additional rounds of stringent audits to ensure the utmost security measures are in place. BlastOff commits to relaunching pools only when they are 100% satisfied with the security infrastructure, prioritizing the safety of user funds.

Source