We hate to hear about scams and thefts but unfortunately, they happen. This time to Blockchain gaming ecosystem, Vulcan Forged.
What happened?
They revealed details of a hack that recently took place on their platform, and the loss is not so small. The thieves made off with 4.5 million $PYR tokens from 98 wallets, with an approximate value of 100 million dollars.
It is assumed that the hack took place on December 13, and exploited an as yet unrevealed vulnerability in the Vulcan Forged system. First, they thought that 148 wallets were involved in the heist but after the investigation, Vulcan Forged revised this figure down to 98.
Vulcan Forged had a quick reaction to this grand theft and they published the wallet address responsible followed by notifying all major exchanges to ensure they blacklist the address.
Because of this big theft, Vulcan Forged is taking its security to the maximum. They want to move to a fully decentralized wallet system, allocating all of their development resources to make haste on this essential task.
The criminal swipe is not the only damage. Even when Vulcan Forged took full responsibility for the breach and pledged to reimburse all lost tokens by dipping into the treasury fund the $PYR tokens tanked over 28%.
We wish them a fast recovery from this disaster.