IOTA

Application Vulnerability

Estimated loss

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VERDICT —OUT OF SCOPE

Root cause is a frontend / UI hijack — users authorized the malicious transaction from a compromised site or DNS. On-chain contract was not the failure surface; pre-deployment audit cannot catch this class.

▰ METHOD

FRONTEND

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

IOTA has shut down its entire network this week after hackers exploited a vulnerability in the official IOTA wallet app to steal user funds.Estimated loss of 850000 MIOTA (valued at us $2.3 million). Attack method (per SlowMist): Application Vulnerability. Reported loss: 8,550,000 MIOTA.

Primary source

https://www.zdnet.com/google-amp/article/iota-cryptocurrency-shuts-down-entire-network-after-wallet-hack/?__twitter_impression=true ↗

Sourced from

slowmist

Technical record