OlympusDAO hack

Unidentified Hacker Returns $300,000 Stolen from OlympusDAO

24.10.2022 09:14 (Updated 24.10.2022 09:10)
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by Aleksandar Đurić
1 min read

Another day, another crypto hack, but this one has a twist. Namely, after taking off with 30,000 OHM coins issued by OlympusDAO, a mysterious hacker has quickly returned the tokens, worth some $300,000.

While we can speculate on the hacker’s motives, we do know that they exploited the bond contract, run through the Bond Protocol on the OlympusDAO decentralized reserve currency network. The bug that made this possible was not discovered despite several outside audits and Olympus’ internal review process.

A service dedicated to hunting security vulnerabilities, Immunefi, is offering a bounty amounting to up to $3.3 million, which the hacker could have claimed by reporting the bug. Perhaps he or she is just a good Samaritan who wanted to help out and was not interested in a monetary reward for doing a good deed.

Author

  • An experienced journalist working in the film and video-game industries for many years. An enthusiast busy with learning new things about the world of crypto every day. Majored in English Language and Literature. Has a shrine in his apartment dedicated to Hidetaka Miyazaki.

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