One Flash Loan Hijacked a Whole Protocol — $4.85M Gone in One Transaction!
On October 24, an attacker hijacked X100's governance on Ethereum and stole about $4.85 million in one transaction.
The attacker borrowed $1.94 million via an Aave flash loan, bought 38,200 X tokens, and staked them across two contracts to seize two of the three Senate seats. With that majority, a treasury deal was proposed and executed in the same transaction, dumping 400,000 X into a new pool for roughly $36.
Blockaid puts the total loss at $4.85 million, and X crashed about 96% within a day. The stolen USDT was swapped into Ether and split across four wallets holding 400 ETH each.
Why it matters: with no waiting period, newly bought votes could be used instantly.
Caveat: no team statement yet, no funds frozen. Not financial advice.
Would you trust a protocol whose treasury can be voted away in one block?
$X $ETH $USDT
#X100 #DeFiHack #FlashLoanAttack #CryptoSecurity #Ethereum #BinanceSquare
On October 24, an attacker hijacked X100's governance on Ethereum and stole about $4.85 million in one transaction.
The attacker borrowed $1.94 million via an Aave flash loan, bought 38,200 X tokens, and staked them across two contracts to seize two of the three Senate seats. With that majority, a treasury deal was proposed and executed in the same transaction, dumping 400,000 X into a new pool for roughly $36.
Blockaid puts the total loss at $4.85 million, and X crashed about 96% within a day. The stolen USDT was swapped into Ether and split across four wallets holding 400 ETH each.
Why it matters: with no waiting period, newly bought votes could be used instantly.
Caveat: no team statement yet, no funds frozen. Not financial advice.
Would you trust a protocol whose treasury can be voted away in one block?
$X $ETH $USDT
#X100 #DeFiHack #FlashLoanAttack #CryptoSecurity #Ethereum #BinanceSquare