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Hope Finance exploit results in $2M stolen from users’ funds

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$2 million stolen from Arbitrum-based algorithmic stablecoin project.

Details of the project are difficult to come by. The platform’s Twitter account was launched in January 2023 and outlined plans for an algorithmic stablecoin called Hope token , which dynamically adjusts its supply relative to the price of Ether .

“It appears that the scammer changed the TradingHelper contract which meant that when 0x4481 calls OpenTrade on the GenesisRewardPool the funds are transferred to the scammer.”

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It's amazing how they did it.

Web3 security firm CertiK flagged the incident on Feb. 21, following an announcement from the Hope Finance Twitter account notifying users of the scam.

Smells like an inside job

Dimplesukere It won't continue forever, so act quickly and get in on this strategy that has already paid me five ether and counting.

OasisProtocol OasisNetwork_ES $ROSE

Thats the “story”. lol Who knows what 2 believe in the dark shadows of tokenomics? Buyin $BTC is a sure and safe bet tho 👍🏼

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