$7M OUSD hacked (another sad news)

[Altcoin1998$]

‌Origin Protocol Confirms $7M Attack on OUSD Vault

Matthew Liu, the co-founder of Origin Protocol, has confirmed that the Origin Dollar (OUSD) vault was attacked by the hackers. He confirmed on Monday, November 16, 2020, that the team is looking for the damage done and how the hackers were able to gain access to it. 

[Coin63@]

‌Origin Protocol Confirms $7M Attack on OUSD Vault

Matthew Liu, the co-founder of Origin Protocol, has confirmed that the Origin Dollar (OUSD) vault was attacked by the hackers. He confirmed on Monday, November 16, 2020, that the team is looking for the damage done and how the hackers were able to gain access to it.

Not only origin protocol but also DAI flash loans more than $6M , Kucoin more than $280M , hacked within a few weeks. But how can it be possible? May be Kucoin, origin protocol,and DAI team authorities are mostly responsible for hacking.

[MrSpasybo]

There are too many hacker related events in the crypto sector in 2020 @@
This shows that projects' security capabilities evolve more slowly than hackers. The time has come for us to be concerned with safety rather than profit and seriously need to do research to find a solution to protect users. The crypto revolution will be meaningless if its members are not protected!

[Riya143]

I don't know about the hack yet. However, you can use the source to better represent the facts. There are many common hacks in the cryptocurrency market. Hijackings will be common in the market. Because the frauds will exist in the market, there will be bad people in the market. But I think projects are hacked because of negligence. So I think it's important to be very aware of every project.

[dragononcrypto]

Interesting news, hardly surprising either, even if I expected a little more from Origin than to get hacked so easily.

$7 million is also quite a lot, but in the broader picture with $12 billion locked into DeFi, it's also not that much (0.05%)

PS - Nothing personal but moved this topic to Altcoin discussion

[masterrex]

‌Origin Protocol Confirms $7M Attack on OUSD Vault

Matthew Liu, the co-founder of Origin Protocol, has confirmed that the Origin Dollar (OUSD) vault was attacked by the hackers. He confirmed on Monday, November 16, 2020, that the team is looking for the damage done and how the hackers were able to gain access to it.

Honestly, speaking I'm tired to read this kind of information, and sometimes I'm thinking that crypto space is not safe because more and more hacking incidents have been reported but not any a single perpetrator was being captured or bring to justice that was a sad reality the crypto industry is just using as a milking cow of those thieves that probably an insider of those platforms who knows its just a kind of drama.

[wawan96]

The origin protocol project has really become a target for hackers to get a lot of money they are very smart to get a lot of money and of course, this is a bad list of the Defi platform that is not safe a lot of this problem and has occurred making the price of Defi coins even lower and of course the future. -the hype is almost over. Defi is increasingly unsafe for a long term investment.

[sky20]

‌Origin Protocol Confirms $7M Attack on OUSD Vault

Matthew Liu, the co-founder of Origin Protocol, has confirmed that the Origin Dollar (OUSD) vault was attacked by the hackers. He confirmed on Monday, November 16, 2020, that the team is looking for the damage done and how the hackers were able to gain access to it.

Hackers are very active. We know that they are surroundings us but why the authority can not give the proper security? The same type of incidents occurred in many times. To prevent it the authority should be more careful. Their thought will be that any time can be happen such type of incidents so they have to give more attention to their security.

[bigcash2011]

This was not expected from the team of origin protocol and ousd because they were professionals and in business from many years. I will wait for what the results come up after investigations and tracking of the hacker. I was also looking to buy some ousd but now im feeling lucky that somehow i was not able to buy.

[Jaguar]

I think majority of the attacked were related to DeFi. Big money was stolen from DeFi projects where the team believe that the system is highly secured. Unfortunately the hacker attacked them, maybe the lesson is to improve the complexity of the system and make the security higher than we  though.

[sampoerna]

It is better if you also include a link as the source of this sad news.
Like this one:
https://cointelegraph.com/news/yield-generating-stablecoin-project-origin-dollar-exploited-for-7m

Nowadays, hack always become a big problem in the crypto world. Many projects and also exchanges have already secured their security guard but hackers will always have their ways to hack. consequently, the price of Origin drops drastically when most altcoins are increasing.

[ayatoslaw]

I think it doesn't need to be questioned how hackers can get access to it, what is clear is that it happens because of a weak security system so that hackers can penetrate that security,
I just heard this news, and this news is not discussed too much by the cryptocurrency media.

[TomPluz]

‌Origin Protocol Confirms $7M Attack on OUSD Vault

Matthew Liu, the co-founder of Origin Protocol, has confirmed that the Origin Dollar (OUSD) vault was attacked by the hackers. He confirmed on Monday, November 16, 2020, that the team is looking for the damage done and how the hackers were able to gain access to it.

Not only origin protocol but also DAI flash loans more than $6M , Kucoin more than $280M , hacked within a few weeks. But how can it be possible? May be Kucoin, origin protocol,and DAI team authorities are mostly responsible for hacking.

They are responsible because they are supposed to be doing their job of securing these digital assets by using the best and the most foolproof technologies around and employing the best people for the job. However, we know that hackers are many times steps ahead in this game. And yes, there is always that possibility of an insider as the point man in hacking, exploiting possible weaknesses in the platform's security. Well, this is always sad and these hacks will never be the last there will be more, much bigger hacking as years go by. Up to now, there is no security organization that can patch this whole mess once and for all.

[shadowdio]

Oh damn another bad news the hacking incident again. Seems their security is easy to access, what a smart hacker. Is the hackers sold all the tokens? or the team freeze it? because I've seen in the coinmarketcap they longer operate it in uniswap.

[Coin63@]

A good news from bubbalex telegram media .. Binance recoverd more than $395000  defi exit scamming finds from hackers.