A Hacker Steals $450,000 in Crypto from Monero Fund
The Monero community crowdfunding wallet was targeted by an attacker who was able to withdraw the entire balance of 2675.73 XMR (equivalent to $452,200 at the time).
The attack took place on September 1, but was only reported by the developer known as luigi1111 on November 2nd through a GitHub thread.
The reason for the exploit has not yet been determined.
The incident has left the project’s hot wallet, containing approximately 244 XMR, untouched.
Developer Ricardo Spagni, who goes by the username Fluffypony, condemned the attack as “unconscionable” as it has taken funds that could have been used for essentials such as rent and food.
The Monero community crowdfunding system collects and distributes funds for community-driven proposals to enhance the ecosystem.
The foundation address was set up in 2020 on an Ubuntu system and is connected to a blockchain node. According to the post, only luigi1111 and Fluffypony had access to the wallet.
The team used a desktop hot wallet for payments.
