Latest Posts

20 Million Optimism Tokens (OP) Swiped After a Transfer Error

- Advertisement -


The Optimism Foundation, a non-profit organization that promotes sustainability through software based on Ethereum technology, recently launched its Optimism (OP) token on various centralized exchanges.

- Advertisement -

Unfortunately, it ran into serious problems shortly after launch. In a deal with partner liquidity provider Wintermute, 20 million OP was redirected and sent to unaffiliated wallet after the translation of Tornado, intended to hide the history of the address in question.

- Advertisement -

In preparation for the ill-fated transaction, Optimism sent Wintermute two separate test transfers, both of which were confirmed to have reached the intended recipient. However, the tokens never reached their destination.

Layer incompatibility by mistake

- Advertisement -

The tokens were originally sent to the Wintermute address from the Optimism Layer-2 wallet, which turned out to be an Ethereum Layer-1 address. Due to incompatibilities related to the multi-signature technology not being available for the Optimism level 2 address, this resulted in the funds being left at level 1 and inaccessible to both parties.

Wintermute made attempts to move to Layer-2 in order to obtain funds. Unfortunately, the entity was not the only one, and the unknown actor managed to deploy contract with different parameters earlier than Wintermute.


ADVERTISEMENT

1 million sold, 19 left

At the time of writing, the stolen tokens were valued at $17.2 million. CoinGecko. The unintended recipient has since sold 1 million OP and still owns the remaining tokens, with no indication of what he intends to do with them.

Both Wintermute and Optimism have tried unsuccessfully to contact the exploit author.

For its part, Wintermute reached out not only to the understandably frustrated community, but also to the exploiter, showing a potential olive branch in case they change their mind or had good intentions in the first place.

“We are ready to consider this as a feat of whites. Moreover, the way the attack was carried out was quite impressive, and we may even consider consulting or other forms of cooperation in the future. We are also happy with the scenario where the remaining 19 million tokens are returned to the Optimism wallet.”

Wintermute continues by setting a time limit of 1 week for the exploiter to contact them or simply return the funds, after which the team will begin attempts to uncover their identity and prosecute them if their attempts at the sleuth are successful.

Wintermute took the blame for the incident and pledged to buy the remaining tokens from the person responsible for the exploit in case they were not returned.

SPECIAL OFFER (supported)

Binance Free $100 (Exclusive): Sign up and get $100 free and 10% off Binance Futures fees for the first month. (terms).

sign up and enter the code POTATO50 to get up to $7,000 on your deposits.






Credit : cryptopotato.com

- Advertisement -

Latest Posts

Don't Miss