Binance-backed non-custodian DODO exchange lost $ 3.8 million due to vulnerability

The DODO exchange, powered by Binance Smart Chain, lost $ 3.8 million as a result of the attack.

The DODO exchange, powered by Binance Smart Chain, lost $ 3.8 million as a result of the attack.

 Important update regarding recent events on DODO

We are actively working with @samczsun , @tzhen , @peckshield , @SlowMist_Team , @BinanceChain , and @ 1inchExchange to investigate and rectify recent exploits targeting DODO V2 smart contracts. https://t.co/hyGqDUC7kM

– DODO DEX (@BreederDodo) March 9, 2021

The project team is investigating the incident together with a white hacker under the nickname samczsun, analysts from PeckShield, SlowMist, 1inch exchange and Binance Smart Chain (BSC) developers.

“The attack targeted several DODO version 2 crowdpools, namely WSZO, WCRES, ETHA and FUSI. Funds in other pools, including all first version pools, are safe. The total losses as a result of the attack amounted to approximately $ 3.8 million, of which $ 1.88 million is expected to be returned, ”the platform representatives wrote.

DODO launched in August 2020. The project attracted $ 600,000 in seed investments from Framework Ventures, DeFiance Capital, SevenX Ventures, Compound founder Robert Leschner and other venture capitalists.

In October, DODO raised $ 5 million from Binance Labs .

Earlier, users of Meerkat Finance based on Binance Smart Chain suspected the project developers of an exit scam .

In early February, ForkLog reported on exit scams of four projects on BSC .

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