Hacker stole $55M worth of crypto from DeFi lender bZx via phishing

The hack took place after one of the bZx’s employees was sent a phishing email embedded with a malicious macro hidden in an MS word document, which, when downloaded, ran a script allowing the attacker to obtain the developer’s personal mnemonic cryptocurrency wallet phrase. 

A decentralized finance (DeFi) lending platform called bZx has suffered a hack attack causing a loss of approximately $55 million in cryptocurrency. As per a tweet posted by SlowMist, a blockchain security firm, the company’s private key got compromised, leading to the crypto heist.  

Reportedly, bZx allows users to borrow or loan crypto. The platform has been on the radar of cybercriminals and suffered three hacks in 2020, out of which the third was the largest that occurred in September.

SEE: Hackers steal $600 million in largest ever cryptocurrency heist

bZx could recover $8 million in cryptocurrency from that third attack, while in the other two attacks, the platform managed to recover $630,000 and $350,000, respectively. This time the total funds lost stand at $55 million. The company shared on Twitter that around 25% of these funds are “personal losses from the team wallet.”

Details of Attack

According to reports, the hacker could steal cryptocurrency worth $55 million after launching a

Read More: https://www.hackread.com/hacker-stole-crypto-defi-lender-bzx-phishing/