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DeFi Lender bZx Suffers Hack for Reported $55M
bZx tweeted that a private key controlling the protocol’s deployment on Polygon and Binance Smart Chain was breached.
Decentralized finance (DeFi) lender bZx suffered a hack of reportedly $55 million, according to a tweet on Friday by the blockchain security firm SlowMist.
- “#bZx private key compromised, over $55 million dollars stolen so far. We’ll continue to update as more information is discovered,” SlowMist tweeted.
- bZx responded in a tweet that a private key controlling the protocol’s deployment on Polygon and Binance Smart Chain was compromised, but that its smart contracts were not.
- The protocol added that about 25% of the stolen amount was “personal losses from the team wallet that was compromised,” and that the incident is still under investigation.
- bZx suffered three hacks last year, although it was able to recover $8 million in cryptocurrency from the third and largest of these attacks, which occurred in September. The other two hacks for $630,000 and $350,000, respectively, occurred in February.
#bZx private key compromised, over $55 million dollars stolen so far. We’ll continue to update as more information is discovered. @RektHQ @ChainNewscom @bZxHQ https://t.co/SM6WWDt06J pic.twitter.com/39S05IiBFr
— SlowMist (@SlowMist_Team) November 5, 2021
STORY CONTINUES BELOW
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UPDATE (Nov. 5 19:54 UTC): Adds third bullet point and information about 2020 hacks.
James Rubin
James Rubin was CoinDesk's Co-Managing Editor, Markets team based on the West Coast. He has written and edited for the Milken Institute, TheStreet.com and the Economist Intelligence Unit, among other organizations. He is also the co-author of the Urban Cyclist's Survival Guide. He owns a small amount of bitcoin.
