Skyward Finance, a decentralized platform built on the nearby protocol, informed the public about his treasury and collapse. In a message on his Twitter page today, November 3, Skyward revealed that his treasury had been removed in a recently smart contract exploitation.
Yesterday, various technical news platforms reported an exploit of $ 3 million that was performed by hackers on the Skyward Treasury. Less than 24 hours later, Skyward came out to confirm the news. Early this morning, Skyward tweeted:
“We regret to inform you that the Skyward Treasury has been removed by a contract, which makes the treasury and the $ skyward -token effective worthless.”
Although it was reported that the attackers stole a total of 1.1 million near tokens, worth an estimated $ 3 million USD on the press, Skyward stated that the hack was a total drain of his accounts. However, the Crypto company has exercised the fear of losses and ensures that all current and earlier sign sales are not influenced.
The Skyward Smart Contract Hack
The Skyward Treasury Drain was reportedly achieved by a violation of the smart contract of the company. According to Skyward, the explorer Wrap.near withdrew several times within one transaction.
Explained about the hack, Sanket Naikwadi, the community moderator of Aurora Lab, explained that the operator initiated the drain by buying a lot of skyward -tokens on ref -finances and then “Save it by Treasury on Skyward Finance, where they seem to have gotten a lot in the neighborhood than what was worth 1 Skyward”.
According to Naikwadi, the exploit was first noticed by a member of the Near Protocol Community, who goes the handle @nearscout, after which Ref Finance, a multifunctional defi-platform led by the community also built on the near protocol, and the air team became team informed.
The @skywardfinance was just exploited for ~1.1M $NEAR Tokens (Worth ~3M) . 😢
Thnx to @NearScout for noticing the treasury drain, he pinged me asking if something is wrong with skyward… then we looked into contract txns and found out about the exploit and sus txns.
smol 🧵
— SankΞt Ⓝ | sanketn81.polygon / near / lens (🐲,💚) (@sanket_naikwadi) November 2, 2022
Is Skyward completely closed?
In its latest tweets, the cheated IDO platform has stated that his smart contracts have now been fully locked, and recommends that it should no longer communicate with his platform. In the words of the company:
“The contracts are fully locked, which means that nobody can pause or can pause or prevent future problems with the $ skyward -token – even we do not recommend users to withdraw their money where they can and for the community to No longer to communicate with Skyward ”.
Naikwadi also warned $ skyward token holders to exchange or exchange their tokens where they can and no longer interact with Skyward Finance, adding that the “Hacker has already withdrawn in the vicinity of many different portfolios.”
Although several Twitter users have included Skyward, others have claimed that the announcement can be a conspiracy from the company.
A user commentary” “Wonder why the exploit did not happen during the bullmarkt. Perhaps the internal team no longer has money, so they are planning to do the exploit to start the new project for the next circle. “
