DeFi project pNetwork loses 277 BTC in hacker attack

The attacker exploited a bug in the code and withdrew 277 BTC (~$12.7 million) from the cross-chain DeFi protocol pNetwork.

1/N We’re sorry to inform the community that an attacker was able to leverage a bug in our codebase and attack pBTC on BSC, stealing 277 BTC (most of its collateral).

The other bridges were not affected. All other funds in the pNetwork are safe.

— pNetwork 🦜 (@pNetworkDeFi) September 19, 2021

“The attacker was able to use a bug in our codebase and attack pBTC on the BSC, stealing 277 BTC (the majority of the collateral). The other bridges were not affected. All other funds in pNetwork are safe,” the project team said.

The developers offered the hacker a $1.5 million reward for returning the funds, although they regarded such a development as unlikely.

“Unfortunately, finding vulnerabilities is part of the game, but we all want the DeFi ecosystem to keep growing. Returning the funds would be a step in that direction,” pNetwork said, addressing the hacker.

Later, the developers said they had prepared a fix for the vulnerability and expected the bridges between networks to be back online within a few hours.

Earlier, on 13 September 2021, a hacker drained assets worth $3.2 million from the DeFi protocol Zabu Finance on the Avalanche.

On 17 September the attacker stole 864.8 ETH (~$3.09 million at the time) from SushiSwap’s MISO IDO-platform. On the same day he returned the funds.

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