Uranium Finance, an automated market maker platform on the Binance Smart Chain has reported a security incident that resulted in a loss of about $50 million.
Tweeting on Wednesday, Uranium revealed that the exploit targeted its v2.1 token migration event and that the team was in contact with the Binance Security Team to mitigate the situation.
(1/2)‼️ Uranium migration has been exploited, the following address has 50m in it The only thing that matters is keeping the funds on BSC, everyone please start tweeting this address to Binance immediately asking them to stop transfers.
— Uranium Finance (@UraniumFinance) April 28, 2021
The hacker reportedly took advantage of bugs in Uranium’s balance modifier logic that inflated the project’s balance by a factor of 100.
This error reportedly allowed the attacker to steal $50 million from the project. As of the time of writing, the contract created by the hacker still holds $36.8 million in Binance Coin (BNB) and Binance Dollar (BUSD).
The remaining stolen funds include