This Altcoin Founder Announces The Stolen Of 10 Million Treasure Coins!

Leather Protocol (LERI) Its founder, 0xAlpha, announced on Twitter that the protocol lost a significant amount of DERI tokens due to his own fault.

0xAlpha, the founder of Deri Protocol, shared the details of the incident on Twitter and admitted that it was his own fault that led to the theft.

10 Million Tokens Stolen after DERI Altcoin Founder Clicked Wrong Link

According to 0xAlpha, some amount from Binance Smart Chain (BSC) to zkSync in the treasure address USDC was trying to bridge it, but fell victim to a phishing website that appeared to be Stargate, a cross-chain bridge service.

Cryptocurrency The wallet said it ignored MetaMask’s warning and signed a message allowing the attacker to transfer DERI from the treasure address.

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The Deri Treasury experienced a phishing attack on one of its wallet addresses on March 29th and today, resulting in theft of about 10 million DERI tokens. Here’s the frustrating, facepalm-worthy story of what happened:

— 0xAlpha (@0x_Alpha) March 31, 2023

The attacker then transferred all the DERI tokens held by the wallet in BSC and dumped them through various exchanges. The same thing was repeated today when the attacker took all the DERI tokens held by the wallet on Ethereum and dumped them as well. 0xAlpha said he realized too late that something was wrong and by then all DERI tokens were gone.

The founder apologized to the Deri Protocol community and said he learned a great lesson from this experience. He also clarified that the fake address is only for keeping DERI tokens in the treasury and the Deri Protocol has nothing to do with it and is still functioning normally.

According to CoinMarketCap data, the total market cap of the DERI token is around $5 million. However, DERI tokens are trading at 99.33% lower than the all-time high recorded on February 12, 2021.

*Not investment advice.