Oh, darling, it seems our dear decentralized protocol Zoth has found itself in a rather sticky situation! A hack, you say? How positively scandalous! An attacker, with all the charm of a cat burglar, has made off with a staggering $8.4 million, swiftly converting it into DAI—because why not? 💸
Now, Zoth, that darling little restaking protocol, was backed by the likes of Borderless and Blockchain Founders Fund. But alas, it appears that security was as flimsy as a soufflé in an earthquake. According to the ever-watchful blockchain security firm Cyvers Alerts, the deployer wallet was compromised, leading to this rather unfortunate transaction. One can only imagine the gasps of horror! 😱
Picture this: just half an hour before the dastardly deed, a proxy contract named “USD0PPSubVaultUpgradeable” was upgraded—how convenient! This upgrade was linked to a contract created by an address that, surprise, surprise, is associated with our charming little thief. Initial estimates suggest that the rogue withdrew a cool $8.4 million in stablecoin USD0++. Quite the heist, wouldn’t you agree? 🎩
But wait, there’s more! The stolen funds were whisked away faster than you can say “crypto catastrophe.” Within mere minutes, all assets were swapped for the ever-so-stable DAI and transferred to another address. As a precautionary measure, the Zoth website has been taken down, now in maintenance mode—because nothing says “we’re on top of things” like a little digital downtime! 🛠️
In the wake of this debacle, Zoth has issued a statement, declaring that their system “has experienced a security breach.” How delightfully vague! One can only imagine the boardroom discussions that followed.
“We are working closely with our partners to mitigate the impact and fully resolve the issue. A detailed report with a clear view will be shared once the investigation is complete.”
ZOTH
As it stands, the community is on high alert, waiting with bated breath for updates. Will they recover? Will the attacker be caught? Or will this just be another chapter in the grand comedy of errors that is the crypto world? Stay tuned, darlings! 🎭
Founded in January 2023 by the dynamic duo Pritam Dutta and Koushik Bhargav, Zoth raised a modest $4 million in August 2024 to launch its tokenized liquid note, backed by secure assets like U.S. Treasury Bills and top-rated corporate bonds. The funding round was a veritable who’s who of investors, including Taisu Ventures, G20, Fat Cat Ventures, and GemHead Capital, along with top angels from Coinbase and Hedera, and a grant from Ripple’s XRPL Foundation. Quite the illustrious cast, wouldn’t you say? 🌟
Read More
- Ludus promo codes (April 2025)
- Cookie Run Kingdom: Shadow Milk Cookie Toppings and Beascuits guide
- ZEREBRO PREDICTION. ZEREBRO cryptocurrency
- Grimguard Tactics tier list – Ranking the main classes
- DEEP PREDICTION. DEEP cryptocurrency
- Maiden Academy tier list
- Seven Deadly Sins Idle tier list and a reroll guide
- Mini Heroes Magic Throne tier list
- Fortress Saga tier list – Ranking every hero
- Why ‘The Old Guard 2’ Release Date Keeps Being Postponed
2025-03-21 14:19