Hackers siphon $18 million from Animoca Brands’ Lympo platform

Hackers siphoned from the hot wallets of the Lympo sports NFT platform, a subsidiary of Animoca Brands, 165.2 million LMT tokens worth $18.2 million at the time of the breach.

#Lympo provides an update on the $LMT token slippage and hacking that occurred on January 10th at approximately 12:32 pm UTC. We’re working on stabilizing the situation and resuming all operations back to normal.https://t.co/i07w5zoOwW@animocabrands

— Lympo.io — Crypto Community (@Lympo_io) January 10, 2022

According to the project team, the attackers compromised ten wallets.

In response to the attack, Lympo took a number of measures to prevent further losses. LMT has been temporarily removed from various liquidity pools to minimise the impact on the token price after the breach.

The team noted that the majority of reserves are in cold storage and were not touched by the incident.

“The attack is still under investigation, but we assure all LMT holders that we are doing everything possible to resume normal operations as soon as possible. We are preparing a comprehensive plan to address the consequences and will share it with the community as soon as it is ready,” said Lympo.

Presumably, the majority of the stolen assets were swapped for Ethereum on Uniswap and SushiSwap platforms.

The price of LMT after the breach collapsed from around $0.11 to $0.01 — roughly 90%.

Earlier, hackers broke into the hot wallet of the European Bitcoin exchange LCX. The loss was estimated at nearly $8 million.