In a startling incident that has sent shockwaves through the cryptocurrency community, a hacker successfully bypassed security measures at Sonic Labs, transferring a staggering 21 million staked S tokens. This breach raises serious questions about the effectiveness of the company's security protocols, and the document underscores a growing issue that affects the broader implications for decentralized finance.
Details of the Attack
The attack took place on November 3, 2025, when the hacker employed a gasless tool called Permit2 to unlock one of the wallets that Sonic Labs had previously frozen. Despite the company's attempts to secure the funds by freezing two wallets, the hacker managed to execute the transfer of stolen assets, converting them into USDC on the Kyber Network before bridging the funds to Ethereum.
Community Reaction and Criticism
This incident has ignited a wave of criticism directed at Sonic Labs, with many in the crypto community expressing frustration over the company's slow response to the breach. Critics argue that the incident highlights significant centralization issues within the platform, raising concerns about the security of user funds and the overall integrity of the ecosystem. As the fallout continues, Sonic Labs faces mounting pressure to address these vulnerabilities and restore trust among its users.
The Pi Network community is currently grappling with internal confusion regarding the token's value, a situation that contrasts sharply with the recent security breach at Sonic Labs. For more details, see read more.
