Attackers convert stolen USDC to Ethereum to prevent stablecoin issuer from freezing assets
Hackers attacked the DAO Maker crowdfunding platform and withdrew $ 7 million in USDC stablecoins from it. This was announced by the analytical service PeckShield. The information was later confirmed by crypto journalist Colin Wu. According to him, the attackers converted the stolen funds into Ethereum.
According to Etherscan , a cryptocurrency wallet owned by hackers holds 2261 Ethereum ($ 7 million) at 18:10 Moscow time on August 12. Wu notes that the stolen funds were converted to prevent the USDC stablecoin issuer from freezing the assets.
Representatives of the DAO Maker platform reported on their Telegram channel that the attack only affected the custody smart contract. DAO tokens and staking assets were not affected by attackers, DAO Maker representatives assured. Since the morning of August 12, the DAO Maker token has fallen in price by 15%. Its price dropped to $ 1.65.
On August 10, hackers broke into the Poly Network protocol and stole $ 611 million. It is currently the largest in the DeFi industry. On the evening of August 11, it became known that the attackers began to return the stolen funds. As of 18:00 Moscow time on August 12, the hackers returned $ 260 million to the Poly Network developers.