DeFi Hedge Fund Force DAO Attacked; FORCE Token Plunges

The price of Force DAO's native token is now down more than 80% in the last 24 hours.

AccessTimeIconApr 4, 2021 at 3:05 p.m. UTC
Updated Sep 14, 2021 at 12:35 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

A decentralized finance (DeFi) hedge fund suffered an attack early Sunday morning that one analyst said was caused by five attackers.

  • The price of Force DAO's native token FORCE plunged on the news and is now down more than 80% in the last 24 hours, according to CoinGecko.
  • According to a chain of tweets by Mudit Gupta, blockchain team lead at blockchain software company Polymath, there were five attackers, one of whom later returned his share of the stolen funds. The others, however, made off with FORCE tokens worth about US$376,000.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.



Read more about