Hacked liquidity protocol JIMBOS offers exploiters a deadline before contacting the law enforcement authorities

Hacked liquidity protocol JIMBOS offers exploiters a deadline before contacting the law enforcement authorities

The liquidity platform-Jimbos Protocol-based on Arbitrum-announced that it would work with several security researchers and on-chain analysts after suffering an exploit of around $ 7.5 million at the weekend.

"Short update: We are already working with several security researchers and on-chain analysts who have helped with the Euler Finance and Sentiment Exploits. We will start working with the law enforcement authorities tomorrow at 4:00 p.m.

  • As already reported, Jimbos was chopped on the morning of May 28th, which led to the loss of over 4,000 ETH.
  • The blockchain expert Peckshield blamed the lack of slipping control in the main contract, which made it possible for the attackers to receive a quick loan of $ 5.9 million, to manipulate the prices of Jimbo, the native tokens of the protocol, and to take it away with state money.
  • The team behind the protocol sent a message embedded in a transaction to the attacker's wallet address and offered to stop all investigations if 90 % of the stolen funds were returned.
  • Jimbo debut less than a month ago, while the second version was published just three days before the exploit.
  • Even with Jimbo's first iteration, problems occurred shortly after the publication on May 16. As a result, the team warned the users to set all interactions with the token and described V1 contracts as "irreparable broken".

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