Hackers Drain Over $230,000 from Bankroll Status via Smart Contract Vulnerability

by Giorgi Kostiuk

2 years ago

Made with AI

Attack on Bankroll Status
DeFi Hacks Trends in 2024
Conclusion

According to Cyvers Alerts, the DualPools hacker group siphoned over $230,000 from the Bankroll Status platform through a vulnerability in a previously signed contract deployed about three months ago.

Attack on Bankroll Status

Bankroll Status, a platform on the BNB blockchain, lost over $230,000 in a cyber attack. Cyvers Alerts was the first to report on the fraudulent transaction, citing that the funds were stolen through a smart contract signed and deployed about 90 days ago. According to Cyvers, the attack was orchestrated by the DualPools hacker group known for its distinct attack methodologies. The group typically employs malicious smart contracts in DeFi platforms to systematically drain funds from unaware users.

"Our system has detected a suspicious transaction involving Bankroll Status on BNB with a loss of $230k. It seems that the Dualpools hacker is behind the suspicious transaction! Our system detected malicious contract deployment targeting Bankroll 90 days ago!"Cyvers

DeFi Hacks Trends in 2024

Most of the DeFi attacks in 2024 have resulted from smart contract vulnerabilities, leading to numerous incidents on several DeFi platforms. For instance, DeFi protocol Nexera lost about $1.5 million on August 7 due to a smart contract vulnerability. Mar Guimenez-Aguilar, a cybersecurity expert and the lead security architect at Halborn, confirmed that close to 60% of crypto losses in the top 100 DeFi hacks resulted from off-chain attacks. He stated that about 52% of attacks targeted private keys, with roughly 56% of crypto’s total value lost.

Mar Guimenez-Aguilar thinks the lack of investor awareness leaves a larger opportunity for crypto hackers, highlighting that the attention is often heavily directed toward securing the smart contracts’ code, which has been the primary attack vector while neglecting the fact that the protocol functions within a broader context.None

Conclusion

DeFi protocol attacks continue to pose a significant threat to users, many of whom lose substantial amounts due to smart contract vulnerabilities. This underscores the need for stronger security measures and increased awareness among investors and developers.

The incident with the attack on Bankroll Status highlights that a lack of focus on smart contract security can lead to significant financial losses. It is crucial for DeFi platform developers and users to understand the risks and take steps to mitigate them.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Tier I

Requires 25% Tier Progress to Claim

Meme Cache

Tier I

Requires 50% Tier Progress to Claim

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Strategy Reports Significant Bitcoin Holdings and Digital Asset Gains

Strategy reports 848,517 BTC holdings and $20.91 billion gains from digital assets.

Andrew Smith30 minutes ago

Binance Announces Phased Withdrawal Restart

Binance has announced a phased approach to restarting withdrawals, having replenished 95% of affected assets.

Jacob Williams3 hours ago

Bitcoin Price Recovery Approaches $78,000

Bitcoin's price recovery has brought it closer to the $78,000 mark after a week of volatility.

Son Min-ho6 hours ago

LIT Token Surges Amidst Mixed Performance in Altcoins

Lighters LIT token experienced a significant surge of approximately 18% to $3.19 on November 1, 2026, amidst mixed performance in major cryptocurrencies.