A security breach has been detected in the Herencia Artifex NFT project, involving a movement of $50 million in HXA tokens. The tokens were transferred by the KyberSwap exploiter, who obtained them using the “transfer from” function from an Ethereum address. This function, commonly used by decentralized application (DApp) users, allows tokens to be transferred from one party to another. However, improper use or vulnerabilities in its implementation can lead to security concerns.
Cyvers, a blockchain security firm, has identified a potential flaw in the Multicall function, which is part of the Thirdweb libraries used in the HXA token’s smart contract. The firm encourages interested parties to participate in the investigation to fully understand the scope and consequences of the exploit.
The funds acquired by the KyberSwap exploiter have been spread across various externally owned accounts (EOAs), making them the top HXA token holders. As a result, cryptocurrency exchange MEXC has temporarily halted HXA token withdrawals and deposits, although this is not directly related to security concerns about the hack.
In a further complication, the official website of the HXA coin, hxacoin.io, is currently inaccessible, leaving investors and stakeholders without access to official information and updates. No explanation has been provided for this issue.
Last month, the decentralized KyberSwap exchange experienced a separate hack in which approximately $46 million in crypto assets were drained. This incident highlights the ongoing challenges faced by the cryptocurrency industry in terms of security.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Global |
| Countries | |
| Sentiment | very negative |
| Relevance Score | 1 |
| People | None |
| Companies | Chainalysis, Multicall function, Cyvers, Thirdweb libraries, Cyvers Alerts, MEXC, DApp, Herencia Artifex NFT project, Ethereum, HXA token, KyberSwap, KyberSwap exchange, 0x0..000dEaD, hxacoin.io |
| Currencies | HXAcoin, Ethereum |
| Securities | None |
