Polkadot Hit by Hack After 1 Billion Unauthorized DOT Are Minted on Ethereum and Sold
Suehyeon Lee
Summary
- A hack triggered the large-scale unauthorized minting of Polkadot's DOT token on the Ethereum network.
- Hackers reportedly minted about 1 billion DOT tokens on the Ethereum mainnet before selling them on the market.
- The exact cause and attack route remain unconfirmed, but actual market damage was relatively limited because token liquidity was constrained.
Forecast Trend Report by Period
Polkadot's DOT token was hit by a hack that led to a large volume of unauthorized minting on the Ethereum network.
Wu Blockchain reported on August 13 that hackers minted about 1 billion DOT tokens on the Ethereum mainnet and sold them on the market.
The attack may have exploited token minting authority or a smart-contract vulnerability. The exact cause and attack route have yet to be confirmed, leaving further investigation necessary.
Still, the token's limited liquidity appears to have kept actual market damage relatively contained.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
