The cryptocurrency industry has seen yet another attack from unknown hackers. A metaverse platform, MetaPoint became a victim of the latest hack and lost approximately $1 million in crypto assets.

The breach occurred on April 12, 2023, leading to a loss of 2,515 BNB. The hackers have transferred all the assets into Tornado Cash. They aim to avoid tracing as the asset mixer will mask the recipients’ addresses.

At the time of writing, MetaPoint has not yet released an official statement regarding the incident and if a refund scheme is in the process.

Brief On MetaPoint And Latest Hack

MetaPoint is a Metaverse Platform where players can engage in many standard activities in their virtual environment. These include participating in social activities, video games, events, and commercial ventures.

Related Reading: Shiba Inu Futures Open Interest Soars, But Volatility Remains Stagnant

However, MetaPoint has a unique trading strategy and an updated AMM mechanism. This helps gamers to enjoy themselves while participating in a metaverse and financial system.

Regarding the latest hack, the exploiters compromised one of the smart contracts on the Metaverse platform. As such, whenever users make a deposit, a new contract is created automatically where the deposits will go to.

This process made it easier for them to steal the funds as the deposits would go to their smart contract instead of the main contract.

The MetaPoint team reported the attack and shut down all activities on Telegram. They have reportedly located the weaknesses and are presently developing remedies.

Go to Source to See Full Article
Author: Eli Dambell

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details