PAID Network exploiter nets $3 million in infinite mint attack
Cointelegraph
Published Mar 05, 2021 02:58PM ET
Updated Mar 06, 2021 05:00PM ET
Paid Network, a DeFi platform aimed at real-world businesses, has been exploited today in an “infinite mint” attack that has sent PAID token prices plunging upwards of 85%.
While the exploit netted nearly $180 million in PAID tokens at the time of the attack — what would have comfortably been the largest exploit of a DeFi protocol — the hacker’s payday will end up being far less. One observer noted that the attacker’s wallet only converted some of their tokens to wrapped ether, leaving the rest in rapidly-devaluing PAID tokens:
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Written By: Cointelegraph
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