Imunefi Reports Dynamic. Fi’s Pledge Contract Hacked

02/22/2023 11:45 • Metaverse Matters • 94 views

According to reports, Imunefi, a smart contract vulnerability reward platform, said on social media that dynamic. fi’s pledge contract was hacked by 73.8 BNB, with a value of about $22634, due to incorrect accounting treatment of the deposit function.

Dynamic.fi’s pledge contract was blacklisted 73.8 BNB

Analysis based on this information:

Imunefi, a smart contract vulnerability reward platform, recently reported on social media that Dynamic. Fi’s pledge contract was compromised by hackers. Reportedly, the hackers were able to steal 73.8 BNB, which is equivalent to $22,634 approximately, due to incorrect accounting treatment of the deposit function.

This news comes as a warning to all organizations using smart contracts. Smart contracts are computer programs that automatically execute the terms of a contract when certain conditions are met. These contracts are often used to facilitate transactions in a secure and transparent manner. However, smart contracts can also be vulnerable to hacking if they are not properly designed and tested.

Imunefi is a platform that specializes in finding and reporting vulnerabilities in smart contracts. It provides rewards to individuals who discover vulnerabilities in smart contracts and report them to the platform. This incentivizes security researchers to find and report vulnerabilities, ultimately making smart contracts more secure.

Dynamic. Fi’s pledge contract was designed to allow users to pledge cryptocurrency to receive rewards in return. However, due to the incorrect accounting treatment of the deposit function, hackers were able to steal 73.8 BNB. This highlights the importance of proper testing and auditing of smart contracts before they are launched.

In conclusion, Imunefi’s report on the hacking of Dynamic. Fi’s pledge contract serves as a reminder to all organizations to take security seriously when designing and implementing smart contracts. Platforms like Imunefi play a crucial role in identifying vulnerabilities in smart contracts and making them more secure. It is important for organizations to participate in bug bounty programs and engage with security researchers to ensure the security of their smart contracts.

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Imunefi Reports Dynamic. Fi’s Pledge Contract Hacked

Dynamic.fi’s pledge contract was blacklisted 73.8 BNB

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