MonoX Team Confirms Exploit, USD 30M+ Might Be Stolen

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It appears that USD 31m has been taken from decentralized finance ( DeFi) platform MonX.

A variety of coins stolen from the platform include USD 10.5m polygon, USD 18.2m wrapped ethereum(WETH), USD 2m wrapped bitcoin ( WBTC) and USD 31,000 chainlink . Data from Polygonscan and Etherscan. The MonoX team has not yet confirmed the exact amount.

“A technique in the swap contract was exploited, and MONO token prices shot up.” The team behind the project stated that the attacker used MONO tokens to buy all other assets in the pool.

MonoX stated further that they are investigating the matter and will pursue the funds return.

They stated that they also wanted to talk with the hacker because they value the work they’ve done for MonoX and, most importantly, for our users and their money.

The coins were taken from Ethereum and Polygon around 13:30 UTC today.

“This address is suspected to be involved in a flashloan operation involving MonoX Finance. More information to follow,” Etherscan warns and Polygonscan.

Cryptonews.com reached out to them in order to leave a comment.

MonoX is a DeFi protocol using a single token design instead of pool pairs for liquidity pools. In return for more tokens, traders can provide liquidity as with other pools.

MONO is currently at 15:04 UTC and down 14% in a single day to USD 5.12.

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