Malefactors hacked the Elephant Money project and stole $22M worth of cryptocurrency
![](data:image/svg+xml;utf-8,<svg xmlns="http://www.w3.org/2000/svg" width="1000" height="664" />)
The Elephant Money cryptocurrency project, which runs on the Binance Smart Chain blockchain, has been hacked. The representative of the project said that the losses amounted to 27.4 thousand BNB ($11.2M at the current exchange rate).
Cybersecurity company PeckShield claims that the project also lost its own tokens for another $11M. Thus, the total losses could be more than $22M.
The company said that the incident was not related to hacking through its employees. According to their information several smart contracts and resources were used to attack the Elephant storage. The project is now working with its partners to investigate the hack.
Elephant Money noted that user funds are safe so they asked people not to sell the platform token. But at the same time, according to CoinGecko, its rate has fallen by 77%, according to CoinGecko. The daily trading volume of the altcoin exceeded $271,000.
2 comments