What Happened?
On June 17, 2021, Unleash Protocol announced that they had identified unauthorized activity involving their smart contracts. According to the official statement, this activity led to the withdrawal and transfer of user funds. The team at Unleash Protocol immediately began investigating the issue and alerted their community to the situation.
The Role of CertiK Alert
During the investigation, the team at Unleash Protocol enlisted the help of CertiK Alert. CertiK Alert is a leading blockchain security platform that specializes in smart contract auditing and vulnerability detection. Their team quickly got to work analyzing the Unleash Protocol smart contracts and identifying the source of the unauthorized activity.
Ethereum Deposits into Tornado Cash
As the investigations continued, CertiK Alert discovered that the unauthorized activity involved deposits of Ethereum into Tornado Cash. Tornado Cash is a decentralized privacy protocol that allows users to obfuscate the origin of their Ethereum transactions. The team at Unleash Protocol believes that this was used as a way to launder the stolen funds.
Trending Hashtags and Crypto Tickers
The news of the Unleash Protocol exploit and the involvement of Tornado Cash quickly spread throughout the crypto community. As a result, hashtags such as #UnleashProtocol and #TornadoCash started trending on social media platforms. Crypto tickers for both Ethereum (ETH) and Tornado Cash (TORN) saw a spike in activity as traders and investors closely monitored the situation.
What's Next for Unleash Protocol?
The team at Unleash Protocol has reassured their community that they are taking all necessary steps to address the situation and safeguard their platform. They are also working closely with CertiK Alert to ensure that their smart contracts are secure and protected from future exploits. As the investigation continues, the team will provide updates and communicate any further actions that may be taken.
Sentiment Result: Negative
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