• March 27, 2023


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Hackers Steal $89M from BonqDAO and AllianceBlock Projects

ByLouis Adams

Feb 2, 2023
Reading time: < 1 minute

A hacker has stolen about 114 million AllianceBlock tokens and 98 million BEUR from BonqDAO protocol’s pool.

The hacker was only able to partially convert $1.7M into Ethereum and DAI due to the low liquidity of the assets. In total, the hacker’s wallet stores coins worth about $89.8 million.

AllianceBlock has said that the incident did not affect other BonqDAO pools. The smart contract allows issuing BEUR against collateral in ALBT.

Both teams are working with partners to remove liquidity from the market and stop exchange trading of coins.

AllianceBlock devs have also stopped the work of the cross-chain bridge until the situation is resolved.