Over $30 Million in WETH and MATIC Stolen From DeFi Project MonoX

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MonoX, a decentralized finance project providing single token pools, has become the latest hack victim, in which early estimations show that the perpetrators managed to take more than $30 million in various cryptocurrencies.

  • The protocol took it to Twitter to confirm the breach, explaining that a “method in the swap contract was exploited and boosted MONO token price to sky-high.”
  • The attackers used the coin to purchase several other digital assets. According to some estimations, the total amount stolen is around $31 million. Those include $18 million in wrapper ether (WETH) and more than $10 million in Polygon (MATIC).
  • Some of the other duped assets include WBTC, GHST, DUCK, IMX, MIM, and LINK.
  • So far, MonoX has failed to provide any more specifics on the security breach, aside from wishing to speak directly to the hacker in order to resolve the issue.
  • This latest incident adds to the growing list of exploited DeFi protocols. CryptoPotato has reported numerous such occasions, with some of the latest being a $12 million attack against pNetwork and $3 million stolen from SushiSwap’s token platform.
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