The AirDAO team has issued a statement addressing the theft of 35.2 million AMB tokens and 125.51 Ethereum from their AMB/ETH Uniswap pool in their latest post. Meanwhile, PeckShieldAlert has reported the hacker’s movement with the stolen funds, coinciding with the crypto market’s recovery from recent downturns.
Details of the Incident:
According to AirDAO, the theft occurred from the AMB/ETH Uniswap pool after the hacker gained access to the liquidity pool using a social engineering scam involving malicious email attachments impersonating one of AirDAO’s trusted partners.
AirDAO has disclosed the hacker’s wallet address as 0xFD1754f6Cb9DA53c6F26E3E2eE3DE875CC11C7AA. The team is actively collaborating with exchanges and relevant authorities to identify the hacker and initiate procedures to recover the stolen funds. They have also reached out to exchanges where the stolen funds were transferred to track and freeze them.
In an attempt to recover the funds, AirDAO has offered a white hat hacking fee of 10% if the hacker returns the funds promptly, while indicating potential involvement of law enforcement if cooperation is not forthcoming.
Impact on the Market:
AirDAO assured users that additional liquidity would be swiftly reintroduced to the Uniswap LP to mitigate the impact of the theft. They reassured the community that the worst was over and pledged to provide updates on the investigation’s progress.
PeckShieldAlert reported a hack on AirDAO resulting in the loss of 126.5 Ethereum and 41.61 AMB tokens, with funds transferred to exchanges like MEXC, ChangeNOW, and KuCoin.
Despite the theft, AirDAO’s price has risen by approximately 7% in the last 24 hours, trading at an average price of $0.0121. On the other hand, Ethereum’s price has surged by 11% in the last 24 hours, with an average price of $3,535.
Not a financial advice.