A hacker has attacked Ethereum and BNB Chain-based decentralized platform Orion Protocol and stolen about $3 million in cryptocurrencies.
PeckShield experts have said that the attacker has used a re-entry attack to steal the funds. The corresponding vulnerability occurs when an attacker repeatedly calls a function and extracts assets from a smart contract before updating the internal state of the latter.
It is important to note that such incidents are possible in the presence of errors in the code and protocol security flaws.
The team of developers of the Orion Protocol have acknowledged the hack and suspended the escrow feature.
The CEO of the project has said:
“We want to reassure our users that none of them suffered damage during this incident.”
