Hot wallet hack: Hackers steal $18.7m from Animoca’s Lympo NTF platform

The hackers gained access to NFT platform Lympo’s operational hot wallet on Monday and managed to steal 165.2 Million LMT (worth $18.7 million).

NFT (aka non-fungible token) has become a major gamechanger on the blockchain but at the same time, it has become a lucrative target for cybercriminals. That is why NFT related scams have suddenly increased and reports on security vulnerabilities on NFT hosting platforms like OpenSea have also gained attention.

In one such recent Animoca Brands subsidiary and Sports nonfungible token (NFT) minting platform, Lympo, that mints for sports-related collectibles lost around $18.7 million after hackers targeted several of its hot wallets.

What Happened?

Lympo has become a target of a hot wallet security breach due to which the platform lost roughly 165.2 million LMT tokens, valued at around $18.7 million. Lympo’s team posted a short Medium update revealing that hackers gained access to the platform’s operational hot wallet on Monday and managed to steal 165.2 Million LMT. 

Tweet from Lympo addressing the issue.

Most of the stolen tokens were sent to a single address where the funds were swapped for Ether on SushiSwap or Uniswap before being sent to other addresses. The attackers hacked ten different project

Read More: https://www.hackread.com/hot-wallet-hack-hackers-steal-animoca-lympo-ntf-platform/