[SafeMoon responds to SEC and will resolve vulnerability losses]
Facing charges of fraud and violation of securities laws by the U.S. Securities and Exchange Commission (SEC), the SafeMoon team responded quickly and announced that it would thoroughly investigate the recent security breach and promised to resolve the problem as soon as possible.
SafeMoon ensures continuous advancement, not only reiterating its firm belief in the future development of the project to the community through official channels, but also maintaining the motivation to serve users and achieve strategic goals.
The March breach caused SafeMoon to lose up to $8.9 million in BNB on Binance. The change in this amount has attracted the attention of blockchain analysts and law enforcement agencies because of its key role in the ongoing investigation.
Blockchain analysis company Match Systems clarified the cause of the vulnerability, pointing out that a new flaw in the SafeMoon "Bridge Burn" smart contract was exploited by attackers to transfer 32 billion SFM tokens to the attacker's wallet without authorization, and then transferred these tokens Swap for up to 27,380 BNB.
Match Systems pointed out that this flaw did not exist in previous versions of the smart contract, and the vulnerability was discovered shortly after the update on March 28, thus raising concerns about insider involvement.
The individual who claims to have unintentionally exploited this vulnerability has stated that he is willing to return 80% of his illegal gains and is seeking dialogue to promote this matter.
SafeMoon’s positive attitude in responding to security breaches and SEC accusations demonstrates its determination to defend the integrity of the project and the trust of the community. Their quick response and transparent handling of the incident demonstrated a commitment to their mission in the face of regulatory challenges.
