Blockchain platform for issuing ‘social money’ hacked for $5.7 million

An unknown attacker stole and sold a ‘huge amount’ of Roll tokens issued on the Ethereum platform, according to The Block researcher Igor Igamberdiev. The attacker obtained almost 3,000 ETH (~$5.7 million).

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Two hours ago, someone sold a huge amount of social tokens issued on Roll platform.

As a result, an attacker earned almost 3k ETH ($5.7M), of which 700 have already been sent to Tornado Cash.

Most of social token prices dumped as a result. pic.twitter.com/WmdMogBBnd

— Igor Igamberdiev (@FrankResearcher) March 14, 2021

He has already sent 700 ETH to the Tornado Cash mixer.

Roll lets any user issue their own branded tokens on the Ethereum blockchain. They can use the asset to monetise activity within a community. The platform calls such coins ‘social money’.

The maximum token issuance on Roll is 10 million units. The first 2 million are issued to the user immediately, with the remaining minted over three years.

The compromised address belongs to the platform, so the expert suggested either a private-key compromise or insider action. It is not known whether the attacker gained access to other elements of Roll’s infrastructure, the researcher added.

The prices of most tokens affected by the incident have fallen significantly.

Data: Twitter.

The wallet still holds a small amount of little-known coins that the attacker could liquidate, Igamberdiev noted.

In February, the hacker behind the DeFi project Furucombo for $14 million in Ethereum and ERC-20 tokens also actively used Tornado Cash to launder assets.

Earlier, Crystal Blockchain noted that over the past five years mixers have become the second-most popular channel for criminals to launder assets.

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