Serenity Shield Token Fell Victim to Hack: $5.6 Million Worth SERSH Stolen
Serenity Defend Token Fell Sufferer to Hack: $5.6 Million Price SERSH Stolen
Serenity Defend project, a multi-chain data storage startup, fell victim to a theft on Tuesday that compromised its MetaMask wallet.
“As of late, a MetaMask wallet related to our project used to be compromised. Which means, we’re taking immediate steps to take care of this and strengthen our neighborhood,” the firm said in a post on X (Twitter).
🚨 Security Alert & Serenity Defend’s Response 🚨
As of late, a MetaMask wallet related to our project used to be compromised. Which means, we’re taking immediate steps to take care of this and strengthen our neighborhood:
✋ Quit Trading on PancakeSwap: As beforehand communicated, please stop all…
— Serenity Defend (@SerenityShield_) February 27, 2024
Per investigations by pseudonymous blockchain investigator ZachXBT, the hack took location on one of Serenity’s wallets on BSC. Perpetrators stole spherical 6.9 million native SERSH tokens worth $5.6 million at the time of hack, the investigation revealed.
“Apparently it’s a ways related on-chain to the sizzling OKX DEX & Concentric hacks as smartly,” ZachXBT said in a Telegram change.
The blockchain platform has asked users to forestall all SERSH purchasing and selling on PancakeSwap. “CEX purchasing and selling on http://Gate.io and MEXC is also suspended,” the change be taught.
The exploit took location at 9:11 am UTC on Feb. 27, transferring 6.9 million SERSH tokens priced at $0.82. The hackers transferred the tokens to an unidentified third-birthday celebration wallet, data from BSCScan eminent.
Following the hack, loads of users took to X (Twitter), accusing the project for storing tokens on a MetaMask sizzling wallet.
“If holders safety used to be a priority, you wouldn’t spend a Metamask sizzling wallet for securing vested tokens,” wrote one user, calling it an “irreparable ruin to the coin’s repute.”
If holders safety used to be a priority, you would possibly well not spend a Metamask sizzling wallet for securing vested tokens.
Anyway, $SERSH is in spite of all the pieces ineffective, the classic of the project is in line with safety however they’ll not be definite their very dangle safety.
Irreparable ruin to coin’s repute and a…
— Hamster Altcoins (@HamsterAltcoins) February 27, 2024
The user wondered the safety of the compromised coin. “A fragile coin that can’t even defend itself, how can them present safety to anybody?”
A coin that used to be created to present safety used to be ”compromised”. And need to you focus on it on their Telegram will you be muted.
No longer a rug-pull however a fragile coin that can’t even defend itself, how can them present safety to anybody?
— Hamster Altcoins (@HamsterAltcoins) February 27, 2024
SERSH Falls Ninety 9%, Serenity Defend Plans Relaunch
The exploit took a toll on the worth of the native token, dragging SERSH from $0.565 to $0.009, a nearly Ninety 9% plunge, in line with CoinGecko data.
The token has a little recovered on Wednesday and is at the 2nd purchasing and selling at $0.151 at press time.
As a outcomes of come-zero drag, Serenity is planning to originate a brand fresh SERSH token “thru a sturdy tidy contract.”
“Our team is actively addressing the bid, and extra crucial formula will seemingly be provided as almost as we say as they’re available within the market. Leisure assured, we’re deploying all important safety measures to be definite a foolproof plan.”
For affected SERSH holders, the project has promised a token substitute on a 1:1 basis. Additionally, Serenity Defend eminent that it’s a ways working with CEXs (centralized exchanges) to salvage out the synthetic task.
Source : cryptonews.com
