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The Crypto Project Origin Protocol had $ 7 million Hacked and Stolen ... More Details Here

The Crypto Project Origin Protocol had $ 7 million Hacked and Stolen ... More Details Here

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For your information, the company launched the stable digital currency OUSD in September this year.

In an official publication, Mr. Matthew Lowe, founder of the Origin Protocol project, stated that out of 7 million dollars of hacked stablecoins, there are about one million dollars in them by the founders and employees of the company.

The company added that the express loan deal was the main reason behind the attack.

The blog post states that the attacker used “Tornado cash” and “renBTC” to launder and transfer money.

The management of the "Origin Protocol" project admitted the existence of a loophole and a bug in re-entering the contract, in which the attacker exploited the verification process, to pass a fake stable currency.

According to the “Origin Protocol” project management statement:

In the past few hours, we've made progress in understanding the attack and tracking the flow of money from OUSD wallets to attackers' wallets.

We will take comprehensive action in the next few days in an effort to recover lost user funds before discussing a compensation plan for affected OUSD holders.

And as a reminder, please do not purchase OUSD on Uniswap or Sushiswap because current prices do not reflect the basic value of OUSD.

The "Origin Protocol" company also left a message to the hacker telling him, or rather, asking him to return the money. The message was sent:

We ask the hacker to do the right thing and get the money back.

You have proven your superior skills as a hacker, and we are pleased to employ you as a security advisor.

If you return 100% of the money, we promise not to prosecute or take any legal action against you.

We humbly ask you to consider the hundreds of innocent people you harm and return the money.

The stablecoin has depreciated drastically in the market.

The founder dismissed rumors of internal fraud or pulling the rug from under users' legs and said the company is not going anywhere because of the hack.

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