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Cryptocurrency

Uranium Finance developer suspected of ‘leaking’ information leading to $50M exploit

April 28, 2021. Summarized by summa-bot.

Compression ratio: 47.1%. 1 min read.

Uranium Finance revealed Wednesday that the exploit targeted its v2.1 token migration event.

The $50 million exploit of Uranium Finance, a DeFi protocol on the Binance Smart Chain, may have been an inside job, according to a member of the project’s development team.

The theory was put forward on Uranium Finance’s Telegram channel by a user named “Baymax,” who appears to be listed as an administrator.

In a pinned post, Baymax explained that the security flaw leading to the exploit happened just two hours before version 2 of the protocol was launched.

The suspicious timing of the exploit narrows down the list of potential perpetrators significantly.

“There are a total of 7 people in Uranium who knew of the exploit.

No team members are listed on Uranium Finance’s official website, so it’s difficult to extrapolate further on how the exploit took place or who may have been responsible, if at all.

Baymax urged the Telegram channel's over 4,100 members to message them directly, and avoid any contact with other moderators or team members.

by summa-bot

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