BenefitMine reports a major theft of BFM tokens that occurred in the wake of a successful pre-sale launch. A total of 16.4 million tokens were stolen in the hacking incident.
Successful Pre-Sale Launch
The token pre-sale launch for BenefitMine was met with overwhelming success. Over 2,000 users purchased tokens within the first hour, with an additional surge of more than 3,000 users creating significant transaction processing congestion. The pre-sale was designed to offer tokens at a discount with a vesting period and used a third-party payment gateway integrated with our smart contract for fiat transactions.
Issues and Hacking Incident
Unfortunately, the surge in transactions caused delays in our smart contract's ability to confirm fiat payments off-chain, leading to a backlog. Taking advantage of this delay, malicious actors exploited a vulnerability allowing them to perform false transactions that our smart contract couldn't properly verify. As a result, 16.4 million BFM tokens were stolen and deposited on the Coinstore exchange, significantly impacting BFM's liquidity.
Response and Next Steps
At BenefitMine, the security and trust of our community are of utmost importance. We are working closely with Coinstore and other partners to trace the perpetrators and recover the stolen assets. Our team is also conducting a thorough investigation and implementing enhanced security measures to prevent similar incidents in the future. We understand the concern this event may cause and reassure our community of our commitment to resolving this issue promptly.
We sincerely appreciate our community's patience and support during this challenging situation. Stay connected through our official communication channels for accurate and timely updates.
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