BONDLY Has Dropped in Value by More Than 67% After Hack
The native token of the Bondly Finance (BONDLY) non-fungible token marketplace (NFT) has dropped in value by more than 67% due to a hacker attack.
According to the developers of Bondly Finance, the attack was carried out on the project protocol. But there is no more detailed information about the attack yet.
The developers also urged not to trade the BONDLY token while the incident is being investigated until the investigation is completed.
As PeckShield analysts found out, hackers gained control over the Bondly Finance smart contract and, using administrator rights, generated an additional 373 million BONDLY tokens (~ $22 million).
In theory, someone close to the development team could be behind the hack. The massive release of tokens immediately led to a collapse in the price of BONDLY. At the time of this writing, the native token of the project in the BONDLY/USDT pair was trading at $0.019 (-67%).