What is known at the moment
The developers immediately launched the process of freezing smart contracts in the protocol. She also launched an investigation. Additionally, the team published a post for the hacker, inviting him to contact them to discuss the possibility of returning the funds.
DeFi Llama reports that the value of assets that were blocked in the protocol has increased significantly over the past month. However, as a result of the exploit, it collapsed to $509,470.
Experts noted that Cypher is one of the fastest growing protocols operating in the Solan ecosystem. This is partly due to the loyalty program, in which users are rewarded in points. Some people think that this is part of the preparation for the airdrop.
Note that last month, the cryptocurrency industry lost $ 303 million in cryptocurrencies due to various hacks, SCAM projects and hacker attacks.