The post Vowcurrency Hack Leads to $1. 2 Million Theft appeared first on Coinpedia Fintech News
CertiK alerts have reported and identified a serious security issue of Vowcurrency. The attack resulted in the loss of significant assets like 175 ETH, 595,970 USDT, and 5,801,632 VOW tokens. The attacker took advantage of a recent change in the vUSD conversion rate from 1 to 100 per VOW token. This manipulation allowed the attacker to receive 100X vUSD than what is normally possible. Subsequently, the attacker cashed out the stolen funds to Ethereum and increased his fund portfolio to 452 ETH or approximately $1. 2 million.