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Beosin EagleEye reports attack on LockedDeal contract resulting in $500,000 loss

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Beosin EagleEye reports attack on LockedDeal contract resulting in $500,000 loss

According to reports, according to the security risk monitoring of Beosin EagleEye, a blockchain security audit company owned by Beosin, the LockedDeal contract of ETH, BSC, and Poolz Finance on the Polygon chain was attacked, resulting in a loss of approximately $500000. An attacker called the vulnerable function CreateMassPools in the LockedDeal contract, and the_ A vulnerability in StartAmount triggers an integer overflow. In addition to obtaining a large number of poolz tokens, the attacker also obtained other tokens. Please raise the alert for related projects. Previously, Beosin EagleEye monitored a 90% drop in Poolz Finance related token $POOLZ

Poolz Finance’s Locked Deal contract was attacked and lost approximately $500000

Analysis based on this information:


In recent news, Beosin EagleEye, a blockchain security audit company owned by Beosin, released a report stating that the LockedDeal contract of ETH, BSC, and Poolz Finance on the Polygon chain was attacked, resulting in a loss of approximately $500,000. The report revealed that an attacker called the vulnerable function CreateMassPools in the LockedDeal contract, and the _A vulnerability in StartAmount triggers an integer overflow. This exploit allowed the attacker to obtain a significant amount of poolz tokens and other tokens.

The attack highlights the importance of having robust security measures in place for smart contracts in the blockchain industry. Smart contracts are essentially self-executing codes that facilitate trust and automate processes on the blockchain network. However, they are vulnerable to attack if there are any weaknesses in the code, providing a potential access point for hackers to exploit.

Beosin EagleEye’s report also highlights the need for heightened security awareness and prompt response to such incidents to minimize the associated financial losses. The report advises the relevant stakeholders to raise the alert for related projects and urges them to take proactive steps to ensure the security of their smart contracts.

The report also reveals a worrying trend of security breaches in the rapidly evolving blockchain industry. In a previous report, Beosin EagleEye had detected a 90% drop in Poolz Finance related token $POOLZ signaling a security breach or rampant selling. This case underscores the need for blockchain companies to constantly monitor their security systems, review their protocols, and stay up-to-date with the latest industry standards.

In conclusion, the recent attack on the LockedDeal contract is a timely reminder of the importance of having robust security measures and thorough audits in place to safeguard smart contracts against potential vulnerabilities. It is essential for blockchain companies to prioritize security and have a proactive approach that supports the investigation and reporting of such incidents.

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