Mobius Token ($MBU) Suffers a Smart Contract Exploit on the BNB Chain, Losing $2.15M

Mobius Token (MBU) was hit by a smart contract exploit on BNB Chain, leading to the loss of about $2.15 million. The exploit was detected by security firm Cyvers Alerts in the early hours of May 11.

According to the security firm, hackers deployed the contract from address 0xb32a53… at 07:31:38 UTC and initiated the exploit at 07:33:56 UTC, draining funds from the victim wallet 0xb5252f….

As stated by the report, Cyvers mentioned that the attacker used contract 0x631adf…to carry out a series of malicious transactions. The smart contract drained about 28.5 million MBU tokens worth about $2,152,219.99, converting them into stablecoins after the theft.

Mobius suffers a smart contract hack on BNB Chain

According to Cyvers’ statement, the Mobius exploit was “critical”, with the platform noting the attacker’s use of suspicious contract code and abnormal transaction patterns.

“Two minutes before the exploit, our system identified a deployment of a malicious smart contract that eventually targeted the Mobius Token smart contracts,” Cyvers wrote on X. As of the time of writing, the attacker’s wallet remains active.

?ALERT? Our system has detected an exploit on Mobius Token smart contracts, draining over $2.15M in Mobius Token (MBU) on BNB Chain.

Two minutes prior to the exploit, our system identified a deployment of a malicious smart contract, that eventually targeted the Mobius Token… pic.twitter.com/NEG5AXdfoc

In a follow-up post, Cyvers mentioned that the attacker has deposited the funds to Tornado Cash, a decentralized platform that runs on Ethereum and acts as a money mixer. The platform is used to render funds untraceable.

However, the Mobius Token team is yet to release an official statement acknowledging the development.

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