• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

FEG Token Attack: How $1 Million Was Lost

user avatar

by Giorgi Kostiuk

3 months ago


Recently, an exploit affecting FEG tokens occurred, resulting in over $1 million stolen due to cross-chain message processing errors. Holders suffered a 99% loss.

Timeline of the Event

The FEG token exploit came after a suspicious attack on the 'SmartBridge' project. Attackers liquidated the stolen funds, leaving holders with 99% losses. The FEG token is a key component for the project's 'SmartDeFi' launchpads operating on multiple blockchain networks.

Details of the Vulnerability

According to CertiK's analysis, the exploit was linked to an error in cross-chain message relay contract logic. CertiK confirmed that the contract was deployed by an address tagged to the FEG team and was not related to Wormhole. This marks the third attack on the FEG project in recent years.

Community Reaction and Consequences

The DeFi community expressed concern following yet another breach. BlockSec discovered that the attacker exploited a vulnerability via SmartBridge's relayer feature. The attacks spanned several blockchains, including Ethereum, Base, and BNB Chain, causing over $1 million in damages.

The FEG token exploit significantly impacted holders and raised concerns within the DeFi community. It is expected that the situation will encourage projects to conduct more thorough security audits of their contracts.

0

Share

Other news

Bitcoin's Dominance Grows as Price Stabilizes at $84K

Bitcoin's price fluctuated but stabilized at $84K, dominance in the crypto market increased.

user avatarGiorgi Kostiuk

4 minutes ago

Strengthening Governance: Uniswap DAO's $113M Delegate Incentive Plan

Uniswap DAO enhances decentralized governance with a $113M delegate incentive plan.

user avatarGiorgi Kostiuk

5 minutes ago

Gold Prices Hit Record $3,177 Due to Tariff Strains

Gold prices have surged to $3,177 amid concerns over global tariffs.

user avatarGiorgi Kostiuk

5 minutes ago

Top Meme Coins: Arctic Pablo Coin, Pudgy Penguins, and Melania Meme

Overview of emerging projects Arctic Pablo Coin, Pudgy Penguins, and Official Melania Meme, their strategies and market impact.

user avatarGiorgi Kostiuk

6 minutes ago

Binance's Adjustments Lead to $3.79M $ACT Liquidation

Binance adjustments caused $3.79M $ACT liquidation, spurring a 50% price drop

user avatarGiorgi Kostiuk

7 minutes ago

Crocodilus Malware: New Threat to Android Owners

Crocodilus targets Android devices, stealing cryptocurrency from wallets.

user avatarGiorgi Kostiuk

8 minutes ago

dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.