Mobius Token Exploited: $2.1M Drained from BNB Chain Smart Contracts

Cybersecurity researchers at Cyvers Alerts reported a significant exploit targeting Mobius Token ($MBU) smart contracts on the BNB Chain. The incident, discovered on May 11th, resulted in the theft of over $2.15 million.

The attack unfolded swiftly. A malicious contract, deployed from address 0xb32a53…, initiated the exploit at 07:33:56 UTC, quickly draining funds from the victim wallet 0xb5252f… Cyvers confirmed the attacker used contract 0x631adf… to execute a series of transactions that siphoned 28.5 million MBU tokens. These tokens were subsequently exchanged for stablecoins, primarily USDT, realizing the $2,152,219.99 loss.

This “critical” exploit, as labeled by Cyvers, leveraged suspicious contract code and unusual transaction patterns to bypass security measures. The attacker’s wallet remains active, holding the stolen funds. At the time of writing, the Mobius Token team hasn’t issued an official statement regarding the incident.

Cyvers highlighted the speed of the attack on X (formerly Twitter), stating that their system detected the deployment of the malicious smart contract just two minutes before the exploit commenced.

Source: Cyvers Alerts

This incident underscores the ongoing vulnerabilities within DeFi and the importance of robust security protocols. We will update this post with any further developments.