Axion Network

Using the unstake function of the Axion Staking contract, we managed to mint approximately 80 billion AXN tokens

Estimated loss

$500.0K

VERDICT —UNRATED

Verdict pending. Auto-ingested incidents are reviewed before a public verdict is rendered.

▰ METHOD

Undisclosed

Root cause

Root-cause analysis not yet published. The incident description below contains all currently available signal — review the attack transaction directly for definitive forensics.

Forensic narrative

Cointelegraph reported that on November 2, a project called Axion Network launched the token AXN and was hacked a few hours after it was hacked. 79 billion AXN were minted and sold to the market. The token price was almost zero. The hacker made a profit of 1,300 ETH, or about $500,000. Attack method (per SlowMist): Using the unstake function of the Axion Staking contract, we managed to mint approximately 80 billion AXN tokens. Reported loss: $ 500,000.

Primary source

https://cointelegraph.com/news/certik-dissects-the-axion-network-incident-and-subsequent-price-crash ↗

Sourced from

slowmist

Technical record