Hackers withdrew $55 million from the bZx platform

The damage was caused by a phishing attack on the project developer

08.11.2021 - 09:45

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What's new? The representatives of De-Fi platform bZx have reported a hack in which hackers managed to steal a large sum of money. The total loss amounted to $55 million.

An hour ago it appears that the private key controlling the Polygon and BSC deployments was compromised, leading to loss of funds. The Ethereum deployment is under DAO control and not impacted. We will provide further updates soon.— bZx - Fulcrum & Torque (on ETH/BSC/Polygon) (@bZxHQ) November 5, 2021

“The private key controlling the Polygon and BSC deployments was compromised, leading to loss of funds. The Ethereum deployment is under DAO control and not impacted.”

What else is known about the hack? According to bZx, hackers used a phishing attack on one of the platform's developers. BSC and Polygon were able to withdraw funds as a result of the compromised protocols. Having said that, the bZx smart contracts were not affected.

The preliminary damages amount to $55 million. The platform is discussing compensation options for affected users.

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