Market News- Santiment is investigating the funds lost in the Santiment protocol.
- The firm restricted the functionality to withdrawals only.
Santiment, the on-chain, social, and financial analyzer, reported there was thievery within their protocol by a mystery hacker. The firm is investigating the indictable extraction of funds in the Santiment Protocol. It’s taken steps to obtain the real cause from the exploit and stop further protocol misuse.
They contacted police force to identify the hacker and save the funds. They’ve been dealing with third-party auditors and security firms. The firm mentioned that it is first priority would be to secure the rest of the funds and recover the funds which have been lost.
Santiment to recuperate the Lost Funds
The firm lately updated the status from the incident. Roughly at 6:00 p.m. UTC, their team grew to become conscious of some abnormal activity, that has now been declared malicious activity. At 7.26 p.m. UTC, the firm stopped its primary contract to prevent further funds being exploited and restricted the functionality to withdrawal only.
Furthermore, with the aid of third-party security government bodies, the Santiment team could push a fix which has remediated the vulnerability. Furthermore, all of the Santiment account users can pay back their financial obligations and unwind their positions.
The Santiment team mentioned they will work carefully with police force and also the close contributors to recognize the hacker who active in the thievery. And also to recover the misappropriated user funds. Their team didn’t reveal just how much funding they lost.
This incident didn’t modify the Santiment Network’s token (SAN). During the time of writing, the buying and selling cost from the SAN is about $.0635, with additional 2.01% within the last 24 hrs, based on CoinMarketCap.
