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.


Read more about

DISCLOSURE

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

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Investing in the Future of the Digital Economy
October 18-19 | Spring Studio, NYC