Hacker Steals $1M From the Solana-based Cypher Protocol DEX

• Cypher Protocol has frozen its Smart Contract following an exploit.
• A hacker stole approximately 38,530 SOL tokens and $123,184 USDC.
• The linked wallet transferred 30,000 USDC to Binance’s Solana USDC address “kiing.sol”.

Cypher Protocol, a Solana-based decentralized futures exchange, has frozen its Smart Contract following an exploit. In a tweet, the platform confirmed the incident and informed its followers about ongoing investigations into the hack. It also included a message to the hacker with an invitation to negotiate further possibilities.

Cypher has has experienced an exploit/security incident. The smart contract has been frozen.

The team is currently working with individuals and investigating

To the hacker: We are writing to see whether you would be open to speaking with us about any potential next steps.

— cypher ©️ (@cypher_protocol) August 7, 2023

Data from Solana blockchain explorer, Solscan, shows that the wallet linked to the exploit stole approximately 38,530 SOL tokens and $123,184 USDC. The stolen assets’ total value is estimated at $1,035,203.

In the hours following the exploit, the linked wallet transferred 30,000 USDC to Binan…

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