Animoca-backed Gamee, a blockchain gaming project, has confirmed a major security breach of its GMEE token contracts on the Polygon network. The unauthorized access occurred on January 22 and involved the theft of about $7 million, equating to 600 million GMEE tokens. The exploit was facilitated through a compromised deployer address via unauthorized GitLab access and a lack of access control, particularly the misuse of the recoverERC721s() function. The Gamee team has since secured the unauthorized access points and clarified that no community-owned funds were affected, with only proprietary team token reserves being targeted. The value of the GMEE token plummeted by 60% as a result of the exploit. Users have been advised to avoid engaging with the GMEE token until the situation is resolved.
Crypto hack losses fell to $1.7 billion in 2023 from an all-time high of $3.7 billion, thanks to fewer attacks on DeFi projects, @chainalysis reported today. @BrandyBetz reports. https://t.co/InuLlSwLlW
The phishing scams continue to bleed the crypto investors. On Jan 23, the address 0xf8ebfa lost ~💰$1.3m worth of stablecoins on multiple chains. 👉154.16K $USDC on #Ethereum 👉300.34K $USDT on #Arbitrum 👉834.24K $USDT on #BNBChain Hack Txn: https://t.co/Iju0U9GTVG… https://t.co/wOD0NYTHCF
ICYMI: Mailer Lite hacker impersonates crypto firms, draining $600,000 with phishing emails https://t.co/VQbt40suRz
A cyber security incident at @MailerLite led to phishing attacks under various crypto brands that drained over half a million dollars from victims’ wallets. https://t.co/MEXxIgG3ib
Hackers Target Crypto Email Lists, Send Phishing Attacks Netting Over $500,000 ► https://t.co/F0DdSJiZiP https://t.co/F0DdSJiZiP
#PeckShieldAlert #Phishing The address 0xf8EB...F807 fell victim to a phishing scheme, resulting in a total loss of ~$1.3m worth of stablecoins on #Ethereum. #BNBChain and #Arbitrum - Lost 154.16K $USDC on #Ethereum - Lost 300.34K $USDT on #Arbitrum - Lost 834.24K $USDT on… https://t.co/52ADT6fXI2
Mailer Lite hacker impersonates crypto firms, draining $600,000 with phishing emails https://t.co/3tTguk884l
GMEE, the token of Animoca Brands' Gamee platform, plunged 60% on Monday after an attacker allegedly drained 600 million tokens from exploited contracts. Click to read via @ggDecrypt: https://t.co/gD7ReQ8d3k
Q2 2023 Costliest Quarter for #BNB Smart Chain with Approximately $69.5 Million Lost https://t.co/OBqmh94ZIl
Animoca Brands' Gamee Token Plunges 60% After Exploit ► https://t.co/DfgUGi6yLV https://t.co/DfgUGi6yLV
🛡️ Security Insight 🛡️ Gamee, a blockchain gaming project backed by Animoca, had their contracts on Polygon exploited for 600M $GMEE ($15 million). This was due to unauthorized GitLab access. The exploit highlights the need for secure access management in #Web3 projects. https://t.co/T1Y4ksamxB
🔐 Stark Reality in Web3: Over 1,000 hacks since 2020, causing losses of $7.5B! In 2023 alone, the Web3 world faced $1.7B in losses. The culprits? Mostly rug pulls and smart contract vulnerabilities. This calls for urgent, stronger security measures in our blockchain systems.…
Blockchain project Gamee reported exploiting contracts for the native token Gamee (GMEE) https://t.co/bSGW3jjYpA
On Jan 22, the @GAMEEToken on Polygon was exploited for 💰$7M (600M $GMEE tokens). The primary reason for the hack was a lack of access control, which led to the compromise of the $GMEE deployer address. In the attack, the attacker withdrew a significant amount $GMEE from… https://t.co/8Ph6Ge23pT
The @GAMEEToken was attacked due to unauthorized deployer key access. The attacker utilized the recoverERC721s() function in order to bypass the $GMEE recovery protection that applies in the recoverERC20s() function. This resulted in ~600m $GMEE being drained from the contract.… https://t.co/dtMVq7sjHG https://t.co/6T2kkNE1lH
Study: Financial Losses on #BNB Chain Due to Hacks and Scams Fell by 85% in 2023 #hacking #web3 #exploit https://t.co/OBqmh94ZIl
DeFi @ConcentricFi or Arbitrum chain suffered an exploit on Jan 22 and has reportedly lost ~💰$1.72M worth of crypto assets (715 $ETH). The exploiters got unauthorized access to the protocol through a targeted social engineering attack on one of the team members holding the… https://t.co/gkz08KACDA
$gmee was expoited and the team mentioned their "deployer address may have been compromised via unauthorized GitLab access” The level of carelessness and lack of security protocols is incredible. @GAMEEToken #audits
A series of unauthorized transactions on the Polygon network have been identified involving the GAMEE token https://t.co/12NA1akVzH
Animoca-backed Gamee confirms major exploit of token contracts https://t.co/bTgebyI5on
Summary: A few hours ago, there was unauthorized access to the $GMEE token contracts on Polygon leading to the theft of funds. Gamee team has secured all unauthorized access to the token contracts. The exploit affected proprietary team token reserves only, and no community-owned…
🚨 $GMEE | URGENT There has been a security incident involving the GMEE token. As a precautionary measure, we advise all users to refrain from engaging with $GMEE until further notice. Our team is actively investigating the situation, and updates will be provided soon.