Blockchain gaming ecosystem, Vulcan Forged, has revealed details of a horrendous hack that recently took place on their platform. Devious scoundrels made off with 4.5 million $PYR tokens from 98 wallets, with an approximate value of $100 million.

Investigators believe the hack took place on December 13, and exploited an as yet unrevealed vulnerability in the Vulcan Forged system. It was initially understood that 148 wallets were involved in the heist. However, whilst undergoing the investigation, Vulcan Forged revised this figure down to 98.

Vulcan Forged was quick to react to this grand larceny, publishing the wallet address responsible followed by notifying all major exchanges to ensure they blacklist the address. One of which, revealed that they believe they have KYC information on file for the culprit which could result in the swift consequences for the criminal.

Update: The majority of PYR has been refunded to affected wallets from the VF treasury.

We have isolated the tokens stolen from all CEX exchanges. We are working to identify footprints.

A 100% decentralized solution was perhaps the ray of light in this.

All dev carries on.

— Vulcan Forged (@VulcanForged) December 13, 2021

As a result of the hack, Vulcan Forged is ramping up its security as of utmost importance and will therefore put its plans in motion to move to a fully decentralized wallet system, allocating all of their development resources to make haste on this essential task.

Following the event, Vulcan Forged took full responsibility for the breach and pledged to reimburse all lost tokens by dipping into the treasury fund. However, the damage runs deeper still, as $PYR tokens tanked over 28% in the immediate aftermath.

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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.

The post $100 Million in $PYR Stolen from Vulcan Forged Marketplace appeared first on NFT Plazas.