Reason to trust
How Our News is Made
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Ad discliamer
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
Web3 betting platform Dexsport has lost $400,000 in BUSD in a recent hack, but all betting smart contracts with user funds remain uncompromised. According to Dexsport, on November 30, a hacker or a group of hackers exploited a breach in the off-chain part related to the case-sensitive recording of unique transaction identifiers for processing deposits. Then they illicitly increased the balance of their wallets on the platform and withdraw the coins from the protocol. However, they managed to steal only $400,000 in BUSD as the Dexsport team quickly revealed the vulnerability and fixed it, adding more security mechanisms to the platform. It was the platform’s own assets that were stolen in a hack. These funds were used as an additional liquidity on the platform.
“The vulnerability was not on the side of our smart contracts as they are constantly tested and audited by the leading security firms Certik and Pessimistic. We know that, in a trustless environment, the reputation is one of the main treasures, especially in a bear market. Therefore, we pay maximum attention to the high level of user experience and safety of user funds,” the Dexsport spokesperson said.
The Dexsport team reassures their customers that all user funds in smart contracts related to bets are unaffected by this hack. Currently, all the operations on the platform are restored, withdrawals and deposits are running without delays.
Dexsport is the first web3 betting platform with a shared liquidity pool of gainings. The protocol is deployed on BNB Chain, OKX Chain, Polygon and Avalanche. The platform caters users interested in sports betting, daf019a0play-to-earn betting, prediction market, P2P prediction on cryptocurrency rates, and NFT collecting.
