The Bonq protocol has been exposed to an oracle hack, with estimated losses totaling around $120 million.
In a follow up tweet, BonqDAO said it has paused the protocol and is working on a recovery solution.
“Other troves remain unaffected. Bonq protocol has been paused. We’re working on a solution that will allow users to withdraw all remaining collateral without repaying BEUR in the troves. It will be released tomorrow morning CET,” it said. AllianceBlock — the token issuers of ALBT — also shared the news on Feb. 1, explaining to its 51,300 Twitter followers that an exploiter managed to gain access to 113.8 million ALBT tokens.
The team is in the process of removing all liquidity on Bonq and has halted exchange trading, it said, adding that no smart contracts were exploited on AllianceBlock.There has been a recent incident involving several ALBT Troves on Bonq, with the attacker gaining access to around 110M ALBT.
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