NFT Minting Platform Got Hacked for $18.7M

A hot wallet security breach was suffered by the sports nonfungible token minting platform Lympo on Monday. The hackers gained access to 165.2M LMT tokens from 10 different project wallets that were compromised and sent most of the stolen funds to a single address, where they were swapped for ETH on Uniswap and SushiSwap, after which the assets were transferred elsewhere.

Following the malicious attack the price of LMT has fallen to $0.01882 at the time of writing, according to Coinmarketcap, which is the current all time low of the token. In response to this, the team behind LMT stated they are temporarily removing LMT from various liquidity pools in order to minimize disruption to token prices. Although the attack is still being investigated, the company assured its token holders they are working hard to resume normal operations “as soon as possible”, by preparing a plan to remediate the attack.

Lympo is an NFT minting platform focused on working with world-famous athletes and clubs, its ecosystem includes custom sports characters created by various artists and sports influencers. The company is owned by Animoca Brands and launched its token in early 2021.

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