Hackers Steal $2M from DeFi Protocol Mozaic Finance
The Mozaic Finance project team has confirmed that the approximate amount of $2 million has been withdrawn from their yield farming protocols’ vaults due to an attack.
The culprit was identified as a former DeFi protocol developer who exploited a team member’s compromised data to obtain access to the security module’s private key.
The stolen assets were transferred to cryptocurrency exchanges Binance and MEXC, with the latter freezing more than 90% of the funds.
The Mozaic team is currently working with these platforms to recover the stolen assets, while cybersecurity companies and law enforcement agencies are investigating the incident.
As a precaution, Mozaic employees have been barred from accessing internal systems until the internal investigation is completed.
The team also highlighted that the hack coincided with a large institutional investor selling MOZ tokens, which contributed to the token’s significant price drop from $0.16 to $0.04.
