Join the larget crypto conference of 2022 in Bitcoin
Bitcoin
$ 39,046

Governance attack on Audius, lost $6M

0
(0)
Governance attack on Audius, lost $6M 7

A hacker tricked the smart contract of the decentralized music platform and finally secured 705 ETH. 

Audius is a music streaming decentralized platform built for all musicians. This platform is just like a music social media platform, which allows creators to post their original music content. Audius is decentralized where 90% of revenue generated on the platform goes to the creators directly. Initially, the platform was deployed on the Ethereum network but now it supports the solana blockchain, to allow the creators to do the activities at the platform at low cost. This platform has support from Katy Perry, The Chainsmokers, Linkin Park’s Mike Shinoda, and other popular celebrities of the music industry. All these popular personalities invested in this project via an investment funding round of Audius.

On 24 July, crypto & blockchain security analytic platform Certik reported that the Audius platform exploited and lost around $6 million worth of Audio tokens. 

Security platform explained:

“The attacker modified the Audius governance contract’s configurations, then proposed and executed a malicious proposal draining 18.5M AUDIO.”

Hacker(s) modified the governance contract system of the platform. Through the modified governance configuration, hacker targeted “execution delay,” “voting period” and “guardian period,” to trick the vote for the malicious proposal and execute it.

In August 2021, the giant short video social media platform TikTok established a partnership with Audius platform to allow the users of Audius to upload their music to TikTok within a matter of clicks.

Price action

At the time of writing this article, the price of the Audio token, Native token of Audius platform, is $0.344 and this price is 4.55% down over the last 24 hours’ trade price. A sudden sharp downfall in the price of Audio tokens can be seen because of the hack attack on the Audius platform.

Governance attack on Audius, lost $6M 6

Read also: Bank of Central African members will develop its own digital currency

Governance attack on Audius, lost $6M

 

https://bitcoinik.com/governance-attack-on-audius-lost-6m/feed/

https://bitcoinik.com/governance-attack-on-audius-lost-6m/feed/

 

 

 

 

 

Ads by Cryptonews24

 

ETH-ERC20 Mining and Financial Management

ETH-ERC20 Mining and Financial Management

✅ Minimum Investment: 10 USDT.
✅ Minimum withdrawal: 1 USDT.
✅ Withdrawal time: 24h.
✅ Withdrawal day: Everyday.
✅ 5% cashback on first investment.
✅ daily profit 6-11.5% on your investment (Profit will be added every hour in your wallet).
✅ Get up to 10% referral Bonus.

The output of liquid mining is not constant and may be affected by the liquidity of the blockchain. The expected daily production income:

✅ VIP1: DEPOSIT 50~10000 USDT GET 2% EVERYDAY

✅ VIP2: DEPOSIT 10001~50000 USDT GET 2.5% EVERYDAY

✅ VIP3: DEPOSIT 50001~100000 USDT GET 3% EVERYDAY

✅ VIP4: DEPOSIT 100001~200000 USDT GET 4% EVERYDAY

✅ VIP5: DEPOSIT 200001~500000 USDT GET 5% EVERYDAY

✅ VIP6: DEPOSIT 500001~1000000 USDT GET 7% EVERYDAY

✅ VIP7: DEPOSIT OVER 1000001 USDT GET 8% EVERYDAY

 

📌 You must open wallet  (Metamask, Tronlink e.t.c. ) and connect it,  for earning income

▬▬▬▬▬▬▬▬▬▬▬▬▬▬

𝙍𝙀𝙂𝙄𝙎𝙏𝙍𝘼𝙏𝙄𝙊𝙉 𝙇𝙄𝙉𝙆👇🏽
https://eth-trc20.org/h5/#/?p=16327

 

ETH-ERC20 Mining and Financial Management

▬▬▬▬▬▬▬▬▬▬▬▬▬▬

👇👇👇👇👇👇👇👇👇👇
Support Telegram Group: https://t.me/+TjCkS2KwKfQwZjM0

—————————————————————————————————————————————-

Ads by Cryptonews24

 

 

 

Risk Reminder:
Trading foreign exchange and/or contracts for differences on margin carries a high level of risk and may not be suitable for all investors.
The possibility exists that you could sustain a loss in excess of your deposited funds.
Before deciding to trade the products reviewed by Cryptonews24.eu, you should carefully consider your objectives, financial situation, needs and level of experience.
You should be aware of all the risks associated with trading on margin.
Cryptonews24.eu provides general news and advice that does not consider your objectives, financial situation or needs.
The content of this website must not be construed as personal advice.
Cryptonews24.eu recommends you seek advice from a separate financial advisor.
Nothing on this website should be considered financial advice.
This website is for informational purposes only and you should not rely on anything that is printed or said on this website to make any financial decisions.

 

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

TELEGRAM
Cryptonews24 Channel Chat