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Decentralized Finance protocol iVest Finance was the victim of a $156,000 exploit on Aug. 12, according to a report from blockchain security firm QuillAudits. Transferring tokens to a null address (0x0) usually causes them to be lost forever. However, in the iVest protocol, transfers to the null address cause a _MakeDonation function to be called, which in turn causes “the sender’s balance [to be] incorrectly reduced by double the intended amount,” QuillAudits reported. The attacker repeated these steps over and over again, successfully draining over $156,000 worth of BNB and iVest tokens from the pool, most of which had been deposited by other users. Quill stated that it would provide more updates as information becomes available. On its website, iVest describes itself as a project that combines “SocialFi and DAO governance with unique tokenomics to support our members and create thriving community projects.”
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Every day, hundreds and even thousands of meme tokens appear on the crypto market. Most of them do not get any traction and immediately fall to zero. But sometimes a coin takes off: it grows in price a thousand times in a matter of days and brings millions of dollars in profit to its creators, insiders, and lucky traders. One of the latest examples is the MOTHER token, created in honor of the Australian singer Iggy Azalea. The coin was launched on the Solana network at the end of May and has since risen in price hundreds of times. During the listing on the decentralized exchange Raydium, you could buy MOTHER for about $0.0005, at one point the price rose to $0.24, at the time of publication (July 8, 2024), the asset costs $0.03.
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