A hacker exploited the Polygon-based Vulcan Forged NFT Marketplace and got hold of the private keys from 96 crypto wallets, which enabled the hacker to steal 4.5 million PYR tokens (worth about $140 million). According to crypto.com, Vulcan Forged’s PYR token is down 12% this morning.
What happened? According to Vulcan Forged CEO Jamie Thomson, the hacker was able to attack the semi-custodial wallets that Vulcan Forged helped manage for its customers. The problem wasn’t with its wallet solution provider, Venly, but a vulnerability within Vulcan Forged. What have they learned from this hack? Thompson said, “Going forward, of course, we’re going to be using nothing but decentralized wallets so we never have to encounter this problem again.”
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