Attackers stole $6 million from Audius by exploiting a bug in the contract
Decentralized music streaming platform Audius was exploited on July 23 when an attacker exploited a vulnerability in its governance smart contract code. According to Audius’ analysis of the hack, the attacker stole over 18.5 million AUDIO tokens, the platform’s native cryptocurrency, worth around $6.05 million at the time.
The hacker identified a flaw in the contract initialization code that helped the perpetrator manipulate Audius’ governance, staking, and delegation contracts, according to Audius’ post-mortem of the attack. A smart contract is a code that allows decentralized platforms to carry out functions without the need for a centralized entity. Through the exploit, the attacker re-defined voting on the Audius protocol and attempted to delegate 10 trillion AUDIO tokens twice to their wallet to pass governance proposals.
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