Grandbase_fi Suffers Major Security Breach: $GB Token Value Plummets Over 99%
Today, grandbase_fi encountered a severe security breach when their deployer's wallet fell victim to unauthorized access, enabling the attacker to mint $GB tokens on BASEChain. This breach resulted in unauthorized transactions that triggered a staggering decline in the value of the token, with prices plummeting by over 99%. According to reports from @CyversAlerts, the hack amounted to a loss of 615 $ETH, equivalent to $2 million. https://twitter.com/CyversAlerts/status/1779847233011146812?t=caz-Sum_0mmsKbjX8Vq_6g&s=19 Despite the drastic depreciation in the token's value, the attacker successfully exchanged the $GB tokens for the 615 $ETH. In response to the breach, Grand Base issued a statement urging all community members to refrain from engaging with the compromised contract, emphasizing its lack of safety. The incident underscores the vulnerabilities that can arise within decentralized systems, highlighting the importance of robust security measures to safeguard against such breaches. The breach serves as […]
