Popular DEX, DODO Exchange has been hacked. The damage is said to be more than $ 2 million. Decentralized exchange DODO lost $ 2 million after cyber hackers attacked their crowded pools on March 8.
DODO Stock Exchange Shaken by DeFi Hack
DODO announced on Twitter that this attack only targets V2 Crowdpools: WSZO, WCRES, ETHA and FUSI. The vast majority of DODO’s liquidity in V1 and V2 pools is safe. The hackers only used repositories created by the users.
DODO has disabled the quick pooling portal to protect the newly created audience pools and will now focus on recovering the user’s funds together with the security partner. Hackers stole $ 2.1 million. The details of the stolen cryptos are as follows: $ 900,000 WCRES and $ 1.15 million USDT. The hack is saved in Etherscan for everyone to see.
This DeFi attack came just five days after Meerkat Finance suffered $ 31 million in post-cyberattacks. The Furucombo protocol also lost $ 14 million by hacking at the end of February.
According to these DeFi hacks, DODO’s loss of $ 2 million remains a relatively low amount, and trust in the protocol will remain intact after the last announcement, so the price of the governance token DODO remained stable after this incident.
Jerry Zhou, managing partner of Puzzle Venture and a major investor of DODO, said:
I can understand that some investors and audience sharing projects are disappointed with DODO, but you should know that the road is never smooth. As far as I know, they have made significant progress in recovering funds. I believe they will get a good result in the end.