Recently, the Berally project on the Berachain blockchain experienced a significant breach. Hackers accessed tokens due to a key leakage.
Details of the Berally Hack
According to a post on Berally's official X page, the hacker managed to drain vesting tokens from the liquidity pool following a key leak. While the exact number of drained tokens was not specified, users were advised to revoke access from the dApp and Staking. However, dApp contracts remain safe. Users are advised against interacting with Berally tokens until the situation is fully understood.
Situation on Berachain After Launch
Berachain launched its mainnet on February 6, 2025, and its native token BERA reached an all-time high of $14.99. However, market instability and profit-taking from airdropped tokens soon caused the price to drop to $4.74. While the price has somewhat stabilized around $6.04 to $6.20, investor caution remains.
Reaction from Berachain's Founder
Berachain's founder Smokey shared his thoughts on the network's launch and improvement plans in a post on X. He noted the team's ongoing efforts to address errors and enhance the network. Smokey expressed gratitude to his team and emphasized the need to improve the project's tokenomics to overcome sell pressure.
The Berally incident on Berachain highlights the importance of key protection and user security. The team is working to resolve the situation and prevent future occurrences.
