Ethereum-scaling Layer-2 solution Optimism recently announced that approximately 20 million OP governance tokens have been stolen. The attacker intervened in the token recovery process associated with Wintermute.
Hey folks–in the interest of transparency, we’d like to share some details about an ongoing situation:https://t.co/915vIgRIJG
Summary below
— Optimism (
_
) (@optimismPBC) June 8, 2022
Attackers Steal 20 Million OP Tokens
Almost a week after the official release of the OP regulatory token, the Ethereum Layer-2 Optimism project has revealed that nearly 20 million of all OP tokens have been stolen by attackers.
especially The hacker has intervened in the token recovery process associated with Wintermute.
“The Optimism Foundation has hired Wintermute for its liquidity procurement services to facilitate a smoother implementation for users who have received the OP to participate in the governance. and to carry out this Agreement As a result, 20 million temporary OP tokens were awarded to Wintermute from the Foundation’s partner fund.”
The attacker found an opportunity when Wintermute identified a multi-signature Ethereum address. That has not yet been published on Optimism, says Wintermute CEO and founder Evgeny Gaevoy. multi-signature is safe for Gnosis.
“Wintermute initiated a recovery operation with the goal of deploying an L1 multisig contract to the same address on L2, but unfortunately attackers can apply multisig to L2 before the recovery operation completes and takes control of the token. 20 million OPs and this address 1 million tokens have already been sold and the rest can be easily sold.”
The accounts of both teams indicate that Wintermute has already purchased 1 million OP tokens, intent on buying more as attackers try to sell them.
“We want to clarify one thing – the default error is 100% Wintermute’s fault and hence We will continue to buy the OP every time an attacker sells it to eventually complete the protocol. (We started buying the first 1 million OP tokens yesterday ). We understand that it can create price volatility in tokens. and will do our best to make it smooth.”
Optimism also added that the Foundation has “provided 20 million OP short-term grants to Wintermute so they can continue to work as things unfold.”
refer : LINK
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