{"id":73455,"date":"2023-02-02T10:44:14","date_gmt":"2023-02-02T08:44:14","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=73455"},"modified":"2025-09-09T14:13:53","modified_gmt":"2025-09-09T11:13:53","slug":"bonqdao-and-allianceblock-hit-by-89-million-hack","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bonqdao-and-allianceblock-hit-by-89-million-hack\/","title":{"rendered":"BonqDAO and AllianceBlock hit by $89 million hack"},"content":{"rendered":"<p>An unknown actor siphoned roughly 114 million AllianceBlock (ALBT) tokens and 98 million BEUR from the BonqDAO protocol pool.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">seems that <a href=\"https:\/\/twitter.com\/BonqDAO?ref_src=twsrc%5Etfw\">@BonqDAO<\/a> and <a href=\"https:\/\/twitter.com\/allianceblock?ref_src=twsrc%5Etfw\">@allianceblock<\/a> has been exploited and large amounts of BEUR and ALBT tokens tokens have been stolen. hacker so far has managed to get 500k USDC from dumping BEUR. He still has 98m BEUR and $12m worth of ALBT. <a href=\"https:\/\/t.co\/2NPAyXIpGQ\">pic.twitter.com\/2NPAyXIpGQ<\/a><\/p>\n<p>\u2014 Spreek (@spreekaway) <a href=\"https:\/\/twitter.com\/spreekaway\/status\/1620864016741732353?ref_src=twsrc%5Etfw\">February 1, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Due to the assets\u2019 low liquidity, the hacker was only able to partially convert them into Ethereum and DAI for about $1.7 million. In total, the attacker\u2019s wallet holds coins worth about $89.8 million.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh4.googleusercontent.com\/vq4V1H0_R0UPJigDcgayiuSVNQ7z6aRGKMZLDBX4tQA7n7thHbj57OrKJX99XYC_Lru8MdHbN3D2_1M-icNnDVAZoAm7RmCdXl1GZgDKnhGGc651AGTVVWpntAzC_5AFU2_-UGgP-eRxA8EP7eJlH1U\" alt=\"BonqDAO and AllianceBlock hit by $89 million hack\"\/><figcaption>Source: DeBank.<\/figcaption><\/figure>\n<p>AllianceBlock said the incident did not affect other BonqDAO pools or the project\u2019s &#8216;treasuries&#8217;, as they are called in the project. The attacker exploited price-oracle manipulation in a smart contract that allows BEUR to be issued collateralized by ALBT.<\/p>\n<p>Both teams are working with partners to remove liquidity from the market and halt trading of the coins on exchanges.<\/p>\n<p>AllianceBlock developers also halted the cross-chain bridge until the situation is resolved. The protocol team said it had taken a snapshot to issue tokens to compensate users.  <\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">ANNOUNCEMENT<\/p>\n<p>There has been a recent incident involving several ALBT Troves on Bonq, with the attacker gaining access to around 110M ALBT.<\/p>\n<p>The incident is isolated to these Troves. None of our smart contracts was breached or compromised. <a href=\"https:\/\/t.co\/puntkIPK3G\">pic.twitter.com\/puntkIPK3G<\/a><\/p>\n<p>\u2014 AllianceBlock (@allianceblock) <a href=\"https:\/\/twitter.com\/allianceblock\/status\/1620887759656460289?ref_src=twsrc%5Etfw\">February 1, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Following the incident, ALBT\u2019s price briefly fell about 75%. After recovering, the token trades around $0.046, about 59% below its pre-hack level (<a href=\"https:\/\/www.coingecko.com\/en\/coins\/allianceblock\">CoinGecko<\/a>).<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh3.googleusercontent.com\/2fWceBb4fnHjuzP1tiGIg5-DsB8Io2GX1PkNejrr5xdMo2SSQJ6ubpB90wlErftO2ulOrPzjXl4PR8h8_sg_aG-vF_yu0NjjZSA5e8kfIctv396OU-ft523EnabH4TtjFSxNJ2t5M7nfQlE7l_u-ZZY\" alt=\"BonqDAO and AllianceBlock hit by $89 million hack\"\/><figcaption>Source: CoinGecko.<\/figcaption><\/figure>\n<p>The euro-pegged BEUR shed around 22% in a day. At the time of writing, the asset trades at about $0.86. <\/p>\n<p>As reported by HAPI Labs, the total crypto-industry loss in 2022 from 359 incidents, including hacks and bankruptcies, <a href=\"https:\/\/u1f987.com\/en\/news\/report-aggregate-losses-by-users-and-investors-in-2022-exceeded-63-9-billion\">reached $63.9 billion<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>An unknown actor siphoned roughly 114 million AllianceBlock (ALBT) tokens and 98 million BEUR from the BonqDAO protocol pool.<\/p>\n","protected":false},"author":1,"featured_media":73456,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1154],"class_list":["post-73455","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-crimes"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/73455","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=73455"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/73455\/revisions"}],"predecessor-version":[{"id":73457,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/73455\/revisions\/73457"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/73456"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=73455"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=73455"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=73455"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}