Titano Finance platform lost $1,9 million in a hack

The representatives of the project gave the hackers 24 hours to return the funds

15.02.2022 - 10:35

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What’s new? On Monday, February 14, a major hack of a decentralized finance platform called Titano Finance came to light. The attack resulted in about $1,9 million of user funds being withdrawn by unknown attackers.

#rugpulls PeckShield has detected @TitanoFinance is rugged: the owner sets the PrizeStrategy contract, which then drains about 4,828 BNB (~$1.9m)! The rugged funds were initially held in this wallet 0xad9217e427ed9df8a89e582601a8614fd4f74563 and then split into 24 addresses. pic.twitter.com/vrGbLLspGo— PeckShieldAlert (@PeckShieldAlert) February 14, 2022

What else is known about the hack? The problem was first reported by the specialists of the information security company PeckShield. And only a few hours later, the hack was confirmed by the platform’s representatives. They gave the hackers 24 hours to return the stolen funds and stated that they were monitoring all their actions.

The protocol of the PLAY service, which Titano Finance has implemented as a staking service and lottery between participants of this program, was compromised. The representatives of the project said that PLAY was suspended and gave guarantees that they would return all stolen funds to users.

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