AirDAO Faces Security Breach, Loosing $35.2 Million

AirDAO has announced a theft incident from its AMB/ETH Uniswap liquidity pool. The attack, which led to the loss of $35.2 million AMB tokens and 125.51 Ethereum (ETH), has prompted action from the AirDAO team to mitigate the situation and safeguard stakeholders’ interests.

The AirDAO team has identified a theft of 35.2m AMB tokens and 125.51 ETH from our AMB/ETH Uniswap pool. We are working with exchanges and relevant authorities to identify the hacker and retrieve all stolen funds. If the hacker returns the funds immediately we will pay a white… pic.twitter.com/lGWrT6ZCWJ

— AirDAO (@airdao_io) March 21, 2024

The theft was executed through a social engineering scam, wherein the attacker, using a fake email with malicious attachments, posed as a known partner of AirDAO. This breach enabled unauthorized access to the liquidity pool, culminating in the theft of substantial digital assets. The hacker’s wallet address, identified as 0xFD1754f6Cb9DA53c6F26E3E2eE3DE875CC11C7AA, is now under scrutiny as AirDAO collaborates with exchanges and law enforcement agencies to trace and recover the stolen funds.

Response and Remediation

The AirDAO’s team has extended an olive branch to the perpetrator, offering a 10% white hat hacking fee for the return of the stolen assets. This offer stands as an incentive for the hacker to cooperate and return the funds voluntarily. Should this approach fail, AirDAO is prepared to pursue legal action to ensure justice and the recovery of the stolen assets.

Exchanges are currently working in conjunction with AirDAO to track and freeze the stolen funds, aiming to prevent further unauthorized transactions. The team has reassured the community that this theft was an isolated event, affecting only the liquidity pool on Uniswap. Importantly, users’ funds on the AirDAO blockchain and exchanges remain secure, and the integrity of the AirDAO multisig wallets is intact.AirDAO aalso announced plans to replenish the liquidity pool on Uniswap promptly.