Ownly Platform Hacked, Around $35K Stolen

Key Takeaways

  • Ownly Platform has suffered an exploit, and its native token, i.e., OWNLY, is dropped by 58%.
  • Hacker has sold all the funds, 115 BNB, i.e., around $35K. Ownly Team has apologized to everyone for the inconvenience caused.
Token Crashes By 58%
Token Crashes by 58%

Below is a quick overview of this project.

OWNLY is a metaverse-focused platform that allows creators and collectors to optimize ownership and utility through innovative applications of non-fungible tokens (NFT). It is created to be a meeting place for artists, gamers, and collectors in the crypto and NFT space.

How did the Attack occur?

The NFTStaking contract contained a bug allowing the hacker to repeatedly stake and unstake until the OWNLY token balance was drained. The hacker then swapped the OWNLY tokens to WBNB and sent the BNB to his address. The unstake() function allowed any staker to unstake an unlimited number of times, up to the total staking balance of the contract. Here is the hacker’s address: 

https://www.bscscan.com/address/0xba31058357ea2f474a2ed0d1b3f9183904ebd38a

Ownly Platform Hacked, Around $35K Stolen
The Hacker’s Activity

What was the Team’s Response to the Attack?

The Team is currently investigating the hack in our Mustachio Marauders Staking Contract. They have already prepared the amount of OWNLY tokens needed for reimbursement. They are currently tracing the wallet addresses of the stakers and will be sending out the OWNLY tokens soon. The minting will be disabled on their staking platform. To everyone who staked their OWNLY tokens in their Stake-to-Own Mustachio Marauder NFT program, Team will airdrop the Mustachio Marauder NFTs to wallet addresses within the day.

As crypto hacks are increasing nowadays, our readers should stay alert.

Here are some latest hacked projects our readers should know about:
  1. MM.Finance Hacked, Around $2M Stolen
  2. BAYC Instagram Hacked, Around $10M worth NFTs stolen
  3. Rari Capital Hacked, Around $80M Lost
  4. Saddle Finance Hacked, Around $10M Stolen
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Yash Kamal Chaturvedi

Btech Computer Science, Maharshi Dayanand University, Rohtak (2023)

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