DeFi Lender bZx Suffers Hack for Reported $55M
Decentralized finance (DeFi) lender bZx suffered a hack of reportedly $55 million, according to a tweet on Friday by the blockchain security firm SlowMist.
- “#bZx private key compromised, over $55 million dollars stolen so far. We’ll continue to update as more information is discovered,” SlowMist tweeted.
- bZx responded in a tweet that a private key controlling the protocol’s deployment on Polygon and Binance Smart Chain was compromised, but that its smart contracts were not.
- The protocol added that about 25% of the stolen amount was “personal losses from the team wallet that was compromised,” and that the incident is still under investigation.
- bZx suffered three hacks last year, although it was able to recover $8 million in cryptocurrency from the third and largest of these attacks, which occurred in September. The other two hacks for $630,000 and $350,000, respectively, occurred in February.
#bZx private key compromised, over $55 million dollars stolen so far. We’ll continue to update as more information is discovered. @RektHQ @ChainNewscom @bZxHQ https://t.co/SM6WWDt06J pic.twitter.com/39S05IiBFr
— SlowMist (@SlowMist_Team) November 5, 2021
Important to note: the bZx smart contracts themselves were not compromised. This incident only impacted the Polygon and BSC deployments via a compromised key.
— bZx – Fulcrum & Torque (on ETH/BSC/Polygon) (@bZxHQ) November 5, 2021
UPDATE (Nov. 5 19:54 UTC): Adds third bullet point and information about 2020 hacks.