Benzinga - Solana-backed decentralized exchange Cypher lost nearly $1 million worth of crypto following a security breach, CoinDesk reports. Following this, the protocol’s contracts have been frozen while contributors try to negotiate with the hackers for a fund return.
Cypher’s rapid growth on Solana is attributed to its loyalty program, rewarding depositors and traders with points, seen by many as a precursor to an airdrop. This incident coincided with Cypher’s biannual hacker house mtnDAO event in Salt Lake City, co-hosted with Solana trading protocol marginfi.
if you are the attacker you can reach out on email or session chat appemail: recover_protocol@proton.me
session id: 05acb0ff5ecb13d3e9d6e8225342994157df834f5f14ac916f2212b20539fe113d https://t.co/ZnEbJN8Kju
— cypher ©️ (@cypher_protocol) August 7, 2023
Marginfi clarified on its Discord channel that it remained unaffected by the hack. The Cypher team reached out to the attacker via a tweet, urging them to communicate through email or the session chat app.