Ethereum restaking protocol EigenLayer assured the community that its protocol has no vulnerabilities after nearly $6 million in tokens were stolen.

Token selling due to hack

On October 4, the EigenLayer team reported an 'unapproved selling activity' from a wallet ending with 'f10D,' which sold approximately 1.6 million EIGEN tokens worth about $5.7 million. It was later determined that a malicious attacker compromised an investor’s email thread regarding a token transfer into custody, which led to the tokens being moved to the attacker.

EigenLayer wrote: "The attacker sold these stolen EIGEN tokens via a decentralized swap platform and transferred stablecoins to centralized exchanges." The team also stated that they had contacted platforms and law enforcement to freeze a portion of the funds. Meanwhile, EigenLayer confirmed that the incident was isolated and did not affect their broader ecosystem or any onchain functionality.

EIGEN's market rank success

On October 1, the EIGEN token was unlocked and traded at $3.85 on Binance, placing its fully diluted valuation (FDV) at around $6.5 billion. According to CoinMarketCap, this put the token at the 94th spot by market capitalization. By October 5, the coin information website showed that EIGEN was trading at approximately $3.38, corresponding to a $5.6 billion FDV and ranking 99th in market capitalization.

EigenLayer continues its investigation and promises to provide further updates, assuring the community that their protocol remains secure.