BREAKING: An Altcoin Has Been Hacked, 1 Quadrillion Fake Tokens Minted – Price Plummets Suddenly

A serious security breach has occurred targeting the MAP Protocol and ButterNetwork infrastructure operating within the cryptocurrency ecosystem. According to an urgent alert issued by the community, the bridge system running on the Ethereum and BNB Smart Chain (BSC) networks has been attacked.

Initial findings indicate that the attacker manipulated the “OmniServiceProxy” mechanism in the Butter Bridge V3.1 infrastructure to mint approximately 1 quadrillion counterfeit MAPO tokens. This amount is estimated to be approximately 4.8 million times the legitimate circulating supply of MAPO tokens, which is around 208 million.

The tokens in question were transferred directly to a newly created external wallet address (EOA). The attacker then reportedly sold approximately 1 billion MAPO tokens, withdrawing 52.21 ETH from the ETH/MAPO liquidity pool on Uniswap V4. Based on the current market value, the estimated loss is around $180,000.

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On the other hand, it is added that the main risk continues. Because it is stated that the attacker still has approximately 999.999 billion MAPO tokens in his possession, and if these tokens are released into the market, they could pose a serious threat to both the liquidity pools of decentralized exchanges (DEX) and the centralized exchanges (CEX) that list MAPO.

MAPO’s price plummeted by 72% following the development.

The chart shows the price drop of MAPO.

*This is not investment advice.

Continue Reading: BREAKING: An Altcoin Has Been Hacked, 1 Quadrillion Fake Tokens Minted – Price Plummets Suddenly