The Dexsport Web3 betting platform announced it faced no disruptions in its services, even after a hacker attack.
Despite a hacking attack that led to an illegal withdrawal of 400,000 BUSD from the platform’s liquidity fund, Dexsport has assured users that their funds remain secure.
On November 30, a hacker exploited a weakness in the off-chain segment that involved case-sensitive recording of unique transaction IDs used for deposits. This vulnerability allowed the perpetrators to inflate their wallet balances and withdraw funds. However, the Dexsport team quickly identified and remedied the situation. The assets taken were from the platform's own liquidity provisions meant for user transactions.
"We acted swiftly to discover the weakness, sealed it off, and reinforced our security protocols. The assets of our users are safe and sound. Maintaining their security is our top priority. The vulnerability wasn’t associated with our smart contracts, which undergo continuous testing and auditing by renowned security companies like Certik and Pessimistic,\" remarked a representative from Dexsport.
In spite of the gravity of the attack, the platform's operations were only momentarily halted, with many users oblivious to any transaction disruptions.
"In a trust-dependent environment like ours, reputation serves as a vital asset, particularly in tough market conditions. Thus, we are committed to ensuring an exceptional user experience and safeguarding user funds at all costs.\"
As reported by blockchain security experts at PeckShield, November 2022 witnessed 29 hacking efforts that collectively managed to siphon off $391.6 million, including attacks on FTX and Deribit. The overall losses inflicted by cybercriminals in the industry this year have reached approximately $3.37 billion. Dexsport Dexsport is recognized as a pioneering Web3 betting platform, operational on various blockchains such as Binance Smart Chain, OKX, Polygon, and Avalanche. It offers a reliable and transparent betting experience without necessitating KYC procedures. Users can simply link their Web3 wallets to start placing bets using diverse cryptocurrencies and stablecoins.
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