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Elephant Money Attacked, Losing Millions

By WebsCryptoApril 13, 20221 Min Read
Elephant Money Attacked, Losing Millions
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The BlockSec ThunderForecast system detected an attack on Elephant Money. The attacker first used WBNB to buy a large amount of ELEPHANT, and then used BUSD to mint the TRUNK stablecoin.

During the minting process, the Elephant contract will convert BUSD to WBNB and then to ELEPHANT to increase the price of ELEPHANT.

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The attacker then sold ELEPHANT for profit. According to preliminary estimates, the attackers made a single profit of about 4M USD.

DISCLAIMER: The information provided by WebsCrypto does not represent any investment suggestion. The articles published on this site only represent personal opinions and have nothing to do with the official position of WebsCrypto.
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