The Roll network allows users to mint branded digital tokens unique to their online presence in order to generate value and provide a way for fans and followers to show loyalty.
On March 14, the hot wallets on the Roll platform were attacked resulting in the draining of all the tokens which the hacker converted into ETH using Uniswap.
In a blog post, Roll stated that it believes the incident was the result of a compromise of the private keys of its hot wallet, and not a bug in its smart contracts or any token contracts.
Earlier today, the private keys to our hot wallet were compromised.
We’re investigating this with our infrastructure provider, security engineers and law enforcement.
Additionally, we’re putting together a $500,000 fund for creators affected by this. https://t.co/fQ2QbFgVAT pic.twitter.com/93pfyRGhi2
— Roll (@tryrollhq) March 14, 2021
3,000 ETH Lifted
Research analyst Igor Igamberdiev delved into the incursion stating that the attacker earned almost 3,000 ETH worth around $5.7 million. 700 of the social tokens taken have already been sent to Tornado Cash and markets for these types of asses have crashed, he added.
Some of the affected tokens include WHALE, MORK, JULIEN, CHERRY, FWB, KARMA, ALEX, KERMAN, SKULL, HUE, and FIRS. On creator called Maxime Hacquard lamented on the loss:
“I’m a creator and our community just lost EVERYTHING. The $PICA just went to 0. I lost like months of salary. As smaller creative communities we just expect more than this. Hoping for a full refund. Confidence …
Story continues on Crypto Potato