A recent cyberattack on the Gnus.AI blockchain network resulted in a staggering loss of approximately $1.27 million. The attack, which exploited vulnerabilities in the Discord server, allowed the hacker to view team members’ private messages and gain access to the team’s wallet address. Using this information, the attacker minted 100 million fake tokens, which were then sold into the market, causing a significant price crash.
In response to the breach, Gnus.AI announced plans to release a new version of their token, GNUS, advising users against purchasing the old version. The attacker managed to pull off the exploit by gaining control of the team’s account through a private key compromise, ultimately transferring wealth from existing tokenholders to themselves. To mitigate the impact, the Gnus.AI team plans to deposit $1 million worth of Ether into a liquidity pool for the new token once launched, providing compensation to affected users.
Despite the severity of the attack, evidence suggests that exploit risks in blockchain networks may be declining as security practices improve. However, the incident serves as a reminder of the ongoing threats faced by blockchain platforms and the importance of robust security measures to safeguard against cyberattacks and protect user assets.
