Hacking of DeFi protocol Zeed: the attacker failed to withdraw funds

DeFi (decentralized digital asset ecosystem) has recorded a case of hacking the smart contract of the Zeed protocol. However, the perpetrator failed/forgot to withdraw the stolen digital assets. Notification was received from BlockSecTeam (a group of specialists who conduct accounting, analysis and control of smart contract security).

The incident occurred at 10.15 Moscow time, on Thursday. The perpetrator carried out the following actions:

1. Hacked the protocol.
2. Allocated himself a certain amount of spatial reward.
3. Implemented it on the crypto market and made a million dollars.
4. Destroyed the hacked agreement.

The operation ended with the transformation of the issued coins into a fruitless collection of random symbols.

For BlockSecTeam, it was interesting that the fraudster did not withdraw the stolen assets from the agreement before its destruction. On this account, the special group put forward assumptions:

• haste in hiding traces of illegal activity;
• ignorance that assets will disappear;
• the appearance of obstacles in the form of software restrictions.

The DeFi protocol Zeed operates on the BNB Chain blockchain and provides services for conducting financial transactions with small commissions. The system is autonomous and integrated. Specialists work and improve the project in the direction of creating an innovative product with the elimination of existing shortcomings.

At the moment, 10 billion ZF tokens have been issued. Almost all digital currency is concentrated in one place. Given the almost complete absence of activity in the crypto market according to the protocol, there is a low probability of hacker attacks on system users.

A little earlier, specialists reported that DeFi protocols are a target for the activities of fraudsters and other illegal cyber activists.