As known from:
known from Coinwireknown from Benchknown from Coinindex
  • About CryptoGmblr.com
Contains commercial content
Cryptogambling / Flooring Protocol loses NFTs worth $1.5M in recent security breach

Flooring Protocol loses NFTs worth $1.5M in recent security breach

Publish Date: 18/12/2023
Stock Photo, tags: flooring - pbs.twimg.com

Stock Photo – pbs.twimg.com

A security breach struck decentralized liquidity solution for non-fungible tokens (NFTs), Flooring Protocol, on December 17, resulting in the theft of three dozen Pudgy Penguins and 15 Bored Ape NFTs.

According to blockchain security firm SlowMist, the platform might have fallen victim to a hacker attack, with users promptly advised to revoke contract authorizations as a precautionary measure.

Developer and Web3 builder foobar the incident, saying, “looks like yet another exploit in the wild, 0x7E5433F02F4bf07C4f2a2D341C450E07d7531428 contract just stole 14 bored apes and 36 pudgy penguins.”

The attack resulted in a loss of NFTs worth collectively at 690 Ether (ETH). The amount is equal to $1.5 million and $1.6 million, depending on ETH price.

Flooring Protocol’s development team responded by deploying a fix within hours of the attack. They reassured the community that the main smart contract remained secure and that assets in vaults and safeboxes were unaffected.

The protocol released a statement through its official account, explaining, “There is an exploit on FP’s peripheral/multi-call contract, which led to the hack. Deployed a fix 2 hours ago, which we believe patched the issue. Still monitoring. Talking to devs and audits. The main contract is safe. Assets in vaults and safeboxes are not affected.”

Reports indicate that the attack either targeted the platform’s peripheral or multi-call smart contract. After the successful breach, the hacker is reported to have subsequently sold the stolen NFTs on the NFT market Blur.

Boring Security, a security protocol funded by ApeCoin DAO, suggested that users who lost their NFTs might not be able to recover them, as the hacker had already liquidated the assets. Meanwhile, SlowMist founder Yu Xian advised users to cancel authorization for contracts starting with 0x3eb8 and 0x49AD.

Previous NFT Trader attack

The Flooring Protocol attack occurred shortly after the P2P NFT platform NFT Trader experienced a similar breach. During the NFT Trader attack, several blue-chip NFTs were stolen, with the hacker demanding their holders pay a 10 percent bounty of the NFTs’ market value.

However, several hours later, the hacker was reported to be returning some items, including a couple of Mutant Ape Yacht Club pieces and a World of Women NFT. The hacker’s location was later disclosed by a third party known as a “lady cleaner.”

Flooring Protocol’s past, current performance

Flooring Protocol, launched two months ago on October 15, quickly gained traction for its unique approach to breaking NFTs into ERC-20 tokens. The platform became a popular hub for Azuki Elementals, Pudgy Penguins and y00ts NFT collection holders, which led to an increase in its trading volume.

In just one day after its launch, Flooring Protocol achieved significant success by accumulating a total of 914 Azuki Elementals, 191 Pudgy Penguins and 365 y00ts, resulting in a total value locked (TVL) surpassing 1,800 ETH.

The protocol’s native token, FLC, experienced a momentary surge, briefly exceeding a fully diluted valuation of $4 billion. The circulating supply consists of 25 billion FLC tokens, allocating 40 percent for community support, with a quarter of the total designated as a reserve. Notably, half of the community’s 40 percent allotment is specifically earmarked for liquidity incentives through staking.

Despite the challenges faced by protocols like Flooring Protocol, the industry as a whole has made strides in fortifying its defenses. A recent TRM Labs research study indicated a significant decrease in cryptocurrency hack volumes in 2023, with more than a 50 percent reduction compared to the previous year.

Top Online Casinos
Top Casinos Bonuses
Stake.us
Stake.us
Stake.us Review
4.6/5
McLuck
McLuck
McLuck Review
4.6/5
High5Casino
High5Casino
High5Casino Review
4.5/5
Sweeptastic
Sweeptastic
Sweeptastic Review
4.5/5
Wow Vegas
Wow Vegas
Wow Vegas Review
4.5/5
Stake.us
Stake.us Bonus
$55 Stake Cash + 260K Gold Coins + 5% Rakeback
T&Cs apply
4.6/5
McLuck
McLuck Bonus
7.500 Gold Coins + 2,5 Sweepstakes Coins
T&Cs apply
4.6/5
High5Casino
High5Casino Bonus
5 Sweeps Coins + 250 Game Coins + 600 Diamonds
T&Cs apply
4.5/5
Sweeptastic
Sweeptastic Bonus
Get 70,000 Lucky Coins and 44 Sweeps Coins
T&Cs apply
4.5/5
Wow Vegas
Wow Vegas Bonus
1.75M WOW Coins + 35 Free Sweepstake Coins
T&Cs apply
4.5/5
Latest News
Charles Hoskinson forecasts Altcoin season showdown: ADA vs. DOGE
Cardano (ADA) Faces Dual Meme Coin Competition where ...
Top 5 AI cryptocurrencies ready to thrive during the next bull market
New crypto ventures merge the groundbreaking capabilities of ...
Top Crypto Exchange Sites
Crypto Exchange Guide
  • Crypto Exchanges
  • Betting Exchange
Top Brands
Top Bonuses
Stake.us
Stake.us
Stake.us Review
4.6/5
McLuck
McLuck
McLuck Review
4.6/5
High5Casino
High5Casino
High5Casino Review
4.5/5
Sweeptastic
Sweeptastic
Sweeptastic Review
4.5/5
Wow Vegas
Wow Vegas
Wow Vegas Review
4.5/5
Stake.us
Stake.us Bonus
$55 Stake Cash + 260K Gold Coins + 5% Rakeback
T&Cs apply
4.6/5
McLuck
McLuck Bonus
7.500 Gold Coins + 2,5 Sweepstakes Coins
T&Cs apply
4.6/5
High5Casino
High5Casino Bonus
5 Sweeps Coins + 250 Game Coins + 600 Diamonds
T&Cs apply
4.5/5
Sweeptastic
Sweeptastic Bonus
Get 70,000 Lucky Coins and 44 Sweeps Coins
T&Cs apply
4.5/5
Wow Vegas
Wow Vegas Bonus
1.75M WOW Coins + 35 Free Sweepstake Coins
T&Cs apply
4.5/5

Players must be 21 years of age or older or reach the minimum age for gambling in their respective state and located in jurisdictions where online gambling is legal. Please play responsibly. Bet with your head, not over it. If you or someone you know has a gambling problem, and wants help, call or visit: (a) the Council on Compulsive Gambling of New Jersey at 1-800-Gambler or www.800gambler.org; or (b) Gamblers Anonymous at 855-2-CALL-GA or www.gamblersanonymous.org.

Trading financial products carries a high risk to your capital, especially trading leverage products such as CFDs. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

This site is using Cloudflare and adheres to the Google Safe Browsing Program. We adapted Google's Privacy Guidelines to keep your data safe at all times.

21+NCPGCloudflareSSLco² neutral
Close
Players accepted in the US US Flag
Stake.us Exclusive Bonus
$55 Stake Cash + 260K Gold Coins + 5% Rakeback
Promo Code
Go to Stake.us
Visit Site
T&Cs apply, 18+
Payment Methods
Bitcoin
Litecoin
Ethereum
Dogecoin
Highlights
  • Exclusive promo code: CRYPTGAMBL
  • Play Stake Originals games for free
  • Get free Stake Cash daily just by logging in
Stake Originals
Dice
Crash
Plinko
Mines
×
Your Bonus Code:
The bonus offer of was already opened in an additional window. If not, you can open it also by clicking the following link:
Visit Site