October 28, 2021

FORCE token sees volatile 24 hours following coordinated attack on ForceDAO

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Hackers made off with 183 Ethereum (ETH), worth roughly $386,000 at the time of writing, following a coordinated attack on DeFi platform ForceDAO Sunday. Following an initial selloff, ForceDAO’s native FORCE token was in recovery mode on Monday, capping off a highly volatile 24 hours for the newly launched project. 

ForceDAO detailed the Sunday exploit in a series of tweets, taking ownership of the “engineering oversight” that resulted in the attack, which centered around the platform’s xFORCE contract. 

POST-MORTEM

To the Force and DeFi community, we’d like to share a post-mortem on the recent xFORCE exploit.

Thanks to everyone technical and non-technical who helped along the way.

Especially to the White Hat who helped deter FORCE getting drained.https://t.co/MK2GH69yLd

— Force (@force_dao) April 4, 2021

In a follow-up blog post, Alberto Cevallos explained:

“The exploiters were able to deposit FORCE tokens that would fail the transfer [f]rom call and receive xFORCE tokens, as the xFORCE contract expects a revert from the token but instead receives false.”

He continued:

“A user could then withdraw these newly minted xFORCE tokens for the remainingTitle: FORCE token sees volatile 24 hours following coordinated attack on ForceDAO
Sourced From: cointelegraph.com/news/force-token-sees-volatile-24-hours-following-coordinated-attack-on-forcedao
Published Date: Mon, 05 Apr 2021 22:30:00 +0100