Blockchain infrastructure company Meter said $4.4 million was stolen during a cyberattack on the platform that started at around 9 am ET on Saturday morning.
The company said it manages an infrastructure that allows smart contracts to scale and travel through heterogeneous blockchain networks. The Meter network as well as the Moonriver network were affected by the hack.
Around 2 pm ET on Saturday, the company said it was hacked and urged users not to trade unbacked meterBNB circulating on Moonriver.
“We have identified the issue: Passport has a feature to automatically wrap and unwrap gas tokens like ETH and BNB for user convenience. However the contract did not block direct interaction of the wrapped ERC20 tokens for the native gas token and did not properly transfer and verify the correct number of WETH transferred from the callers’ address. We are working on compensating funds to all affected users,” the company explained.
By 6 pm, Meter wrote that it stopped all bridge transactions and discovered that the issue related to a bug “introduced in the automatic wrap and wrap of native tokens like BNB and ETH extended