SafeMoon vows to resolve concerns while authorities track exploiters of $8.9 million in losses.
to a statement made by the project on X , its teams are actively developing and remain committed to serving users, advancing the project’s vision and pursuing its mission.). The capital linked to the security breach has been moving through centralized exchanges , with blockchain analysis company Match Systems suggesting these transactions may hold significant relevance for law enforcement authorities.
According to an analysis by Match Systems, the attacker took advantage of a vulnerability in SafeMoon’s smart contract related to the “Bridge Burn” feature, enabling the execution of the “burn” function for SafeMoon tokens at any address.The exploiters’ action entailed transferring 32 billion SFM tokens from SafeMoon’s liquidity pool address to SafeMoon’s deployer address, causing a rapid increase in token value.
Match System’s analysis determined that the smart contract vulnerability was absent in the previous version and was introduced with the new update on March 28, coinciding with the day of the exploit. This has raised suspicions of potential insider involvement. The individual responsible for the attack initially stated that they accidentally exploited the protocol and expressed a desire to
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