- This topic has 3 replies, 2 voices, and was last updated 2 months ago by Vishal_pratap_.
- Sunday, July 24th, 2022 at 05:17 #344046SurenRongyaoParticipant
# About Audius Project:
Audius is a decentralised music streaming service, built on POA Network, an Ethereum sidechain, and later moved some services to the Solana blockchain. It lets artists upload their tunes to the app and connects fans directly with artists and exclusive new music.
# Hack Recap:
The attacker called the “initialize” function in the Audius governance contract to modify configurations (through re-initialization) such as “voting period”, “execution delay”, and “guardian address”.
The attacker created and passed a malicious governance proposal to transfer out 18.5 AUDIO tokens from the community treasury.
Then, they successfully swapped these $6M worth of tokens on [Uniswap](https://etherscan.io/tx/0x82fc23992c7433fffad0e28a1b8d11211dc4377de83e88088d79f24f4a3f28b3) for only $705 ETH (\~$1.1 Million), due to high slippage.
**Audius Team Response:**
The issue has been found and fixes are in progress to get things back to a stable state.
To prevent further damage, all Audius smart contracts on Ethereum had to be halted, including the token.
We do not believe any further funds are at risk.
More updates / post-mortem soon.
While these fixes are being completed, token balances, transfers, etc will be temporarily unavailable
The Stolen funds are currently at this address:
0xa0c7BD318D69424603CBf91e9969870F21B8ab4cSunday, July 24th, 2022 at 05:17 #344047jakekick1999
*We do not believe any further funds are at risk.*
A lot of funds have been lost to the point where saying any more at risk is not assuring in the least
The worst part is that the hackers could have taken a million and returned the rest 5 million to the project themselves as an act of white hat hacker. This wouldn’t have ruined the project while still getting to keep the reward. Now they have all eyes on their wallet and possible police authorities as well.
However, there is Tornado cash which means pretty much goodbye recovering the ETH that they have right nowSunday, July 24th, 2022 at 05:17 #344048thenudelman
Sacrificing some of the loot to execute your hack getaway as quick as possible?
Here I thought that kind if slippage was just for trading shitcoins.Sunday, July 24th, 2022 at 05:17 #344049Vishal_pratap_
Was wondering, why AUDIO is down 12% today.
Thanks for update!!
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