MM.Finance, a DeFi platform, Had More Than $2 Million Stolen

In a Domain Name System (DNS) attack, hackers decided to retrieve $2 million worth of digital assets, as per MM.Finance. It is a DeFi ecosystem with the largest decentralized exchange on the Cronos blockchain. 

Hackers target the reliability or integrity of a network’s DNS service in these attacks. The attacker could “inject a malicious contract address into the frontend code,” as per the team behind MM.Finance, which bills itself as the world’s largest decentralized finance ecosystem on the Cronos blockchain. “Attacker changed the network contract address in our hosted files via a DNS vulnerability.” In a Medium post-mortem, the business claimed, “We understand that some of you have suffered considerable sums and are filled with anxieties and despair.” 

After completing swaps or adding and deleting liquidity on the MM.Finance site starting on May 4, users lost money. “The malicious router kicked in and the LPs were withdrawn to the attacker’s address when victims navigated to mm. finance to remove liquidity,” the company revealed. MM.Finance has offered the attacker 48 hours to refund 90% of the stolen funds, warning that if the deadline is not met, it will notify the FBI. 

The attacker made off with more than $2 million in cryptocurrencies before laundering it all through Tornado Cash, a service that allows users to hide the source of their payments. The company is forming a compensation fund for anyone affected,

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