FilDA Attacked on ESC and REI Networks: Over $700K Lost

04/24/2023 06:28 • Tech Ticker • 126 views

According to reports, PeckShield monitoring showed that FilDA was attacked yesterday on ESC and REI networks, causing approximately $700000 in losses. The attacker bridged approximately 80000 ELAs to BNBChain, exchanged them for approximately 326 BNBs, and then deposited the funds into Tornado Cash. In addition, they bridged 200000 ELAs to Ethereum, exchanged a portion for approximately 17 ETHs, and transferred these ETHs and 160000 ELAs to addresses starting with 0x05dd.

Security team: FilDA attackers exchanged approximately 80000 ELAs for approximately 326 BNBs and deposited them into Tornado Cash

On August 2, 2021, PeckShield monitoring reported that FilDA, a decentralized finance (DeFi) lending platform, was attacked on the ESC and REI networks, resulting in losses of approximately $700,000. The attacker carried out a sophisticated attack, bridging ELAs to BNBChain, exchanging them for BNBs, and depositing the funds into Tornado Cash. They also bridged ELAs to Ethereum, converted them to ETH, and transferred the funds to addresses starting with 0x05dd.

Understanding the Attack on FilDA

FilDA is a popular DeFi platform that enables users to lend and borrow a wide range of digital assets. The platform has gained significant popularity in recent months thanks to its decentralization, transparency, and security. Unfortunately, on August 2, the platform experienced a severe attack that resulted in losses of over $700,000. The attack was carried out by a group of sophisticated hackers who targeted FilDA’s ESC and REI networks.
According to reports, the attackers bridged approximately 80,000 ELAs to BNBChain and exchanged them for approximately 326 BNBs. They then deposited the funds into Tornado Cash, a decentralized mixer that allows users to exchange digital assets anonymously. In addition, the attackers bridged 200,000 ELAs to Ethereum and converted a portion of them to approximately 17 ETHs. They then transferred these ETHs and 160,000 ELAs to addresses starting with 0x05dd.

How the Attack Was Carried Out

The attack on FilDA was sophisticated and required a high level of technical expertise. The attackers first targeted the platform’s ESC and REI networks, which are essential components of FilDA’s infrastructure. They then exploited vulnerabilities in the networks to carry out their attack.
To carry out the attack, the hackers first bridged ELAs to BNBChain, which allowed them to exchange these tokens for BNBs. They then used Tornado Cash to deposit the funds, making it difficult to trace the transaction back to them. Tornado Cash is a decentralized mixer that allows users to exchange digital assets anonymously by mixing their tokens with others in the pool.
In addition, the hackers also bridged ELAs to Ethereum, where they converted a portion of them to ETH. They then transferred the funds to addresses starting with 0x05dd, making it difficult to trace the transactions back to them.

How Can Similar Attacks Be Prevented?

The attack on FilDA highlights the vulnerabilities that exist in many DeFi platforms. While these platforms offer users significant benefits such as access to financial services without intermediaries, they also expose users to significant risks.
To prevent similar attacks in the future, DeFi platforms need to adopt more robust security measures. These measures include conducting regular security audits, implementing multi-factor authentication, and employing more advanced security protocols.
In addition, DeFi platforms need to educate their users on the importance of security, such as the need for strong passwords and the use of hardware wallets. By doing so, they can help to prevent attacks and protect their users’ assets.

Conclusion

The attack on FilDA showcases the inherent vulnerabilities that exist in many DeFi platforms. While these platforms offer a range of benefits, users must be aware of the risks they face. To prevent similar attacks in the future, DeFi platforms must invest in robust security measures and educate their users on the importance of security.
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**FAQs**
1. What is FilDA?
FilDA is a decentralized finance (DeFi) platform that enables users to lend and borrow a wide range of digital assets.
2. What is Tornado Cash?
Tornado Cash is a decentralized mixer that allows users to exchange digital assets anonymously by mixing their tokens with others in the pool.
3. How can DeFi platforms prevent attacks?
DeFi platforms can prevent attacks by adopting robust security measures, conducting regular security audits, implementing multi-factor authentication, and educating their users on the importance of security.
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**Keywords:** FilDA, DeFi, ESC, REI, Tornado Cash, ELAs, BNBChain, Ethereum, security.

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