Alert to Pando Community:Hack of Pando Rings
Pando Rings suffered from a hack yesterday on November 5th, 2022. The attacker exploited a vulnerability in Pando Rings price oracle and manipulated the price of sBTC-WBTC (liquidity provider token of the trading pair BTC-WBTC on 4swap) to attempt a theft of approximately $70 million worth of crypto assets. $21,877,098.03 worth of crypto assets including ETH, EOS and BTC were unfortunately transferred out from the attacker's two perpetrating Mixin wallets before measures could be taken. Though fortunately, among the transferred funds, Pando team was able to get support and assistance from our community and the transferred 2,022,662.9979 EOS (valuing at approximately $2,362,761.24) has now been frozen. And for the larger rest of the hacked funds (approximately at the value of $50 million) that are still in the hacker's wallets, we took as promptly measures as could be done, got assistance from Mixin Network and have had the funds frozen.
The mixin wallet IDs of the hacker are:
The fund's source is:
The funds are withdrawed to the addresses at:
Services of Pando Rings, 4swap, Pando Lake and Pando Leaf have been temporarily halted to ensure no further vulnerabilities would be exploited. The time for resuming the service is not yet to be decided but we are working to fix the vulnerabilities as soon as we can. We will resume services once the security concern has been completely addressed.
We have taken measures including:
Collaboration with the security team SlowMist to trace the asset movements of the hacked funds
Tracking identity clues on the blockchain
In touch with the law enforcement agencies to track down the physical identity of the attacker
Working on fixing the vulnerability in the Pando Rings price oracle
We are committed to protecting the safety of users' assets on our platforms. For the Pando Rings users, please rest assured that if your assets are affected by the hack, we guarantee reimbursement of your assets in full.
We will provide further updates when available. Thank you all for your support.
November 6, 2022
A message to the hacker if you are reading this:
We have sent two messages from the address 0x3e99920e6c40971655e19ad0598454992210499f. There are consequences for your perpetrating the theft. Even not now, it will be only a matter of time. The communication channel is still open. Please be in touch and we can negotiate what can be done in exchange for the returning of the funds.
The information contained in this article is for informational purposes only and does not constitute financial, investment, or other professional advice. The views expressed in this article are those of the author and do not necessarily represent the views of the company or organization they work for or Pando. Any investment decisions made by the reader should be made after consulting with their own financial advisor and conducting their own research. The author and the company or organization they work for and Pando will not be liable for any financial losses incurred as a result of reliance on the information contained in this article.