DeFi-project Force DAO was attacked after launch

DeFi-project Force DAO was attacked after launch

On Sunday, April 4, the DeFi-protocol Force DAO reported a hacker attack a few hours after launch. The token of the FORCE project has depreciated by 90%.

According to the developers, the attackers took advantage of a vulnerability in the smart contract. The team estimated the damage at 183 ETH (~$367,000).

Igor Igamberdiev, a researcher at The Block, reported that one of the hackers returned 15.8 million to FORCE.

Another attacker managed to withdraw 298,000 FORCE and exchange them for 42 ETH (~$85,000 at the time of writing). The third stole 4.1 million FORCE, receiving 80 ETH (~$16,000).

The Force DAO admitted that they could have prevented the attack. According to the lead developer of the project, Alberto Sevallos, in the coming days the team will announce a plan to reimburse the affected users.

According to CoinGecko, the FORCE token was trading at $2.21 before the attack. At the time of writing, its price has dropped to $0.08.

Recall that in February 2021, hackers hacked the DeFi project Furucombo. The damage amounted to about $14 million in Ethereum and ERC-20 tokens.