Rubic loses $1,000,000 and private keys to an exploit

An attack has recently been used to steal cryptocurrency from users of the decentralized exchange (DEX) and multi-chain swaps protocol known as Rubic.

Rubic Has Information Regarding an Exploit

The decentralized exchange has acknowledged that it has been targeted by a cyber attack carried out online. Because of this, they have ended up losing cryptocurrency with a total value of more than one million dollars.

The most troubling aspect is the additional information that the Rubic authorities included in their warning. They disclosed the fact that the cybercriminals had been successful in gaining access to the secret keys.

It has been established by the authorities that the private keys that were taken by the cybercriminals belonged to the administrator's wallet.

Today, Rubic found out about the operation when it was still early in the morning. They discovered that the private keys to one of the administrator's wallets had been taken. The wallet belonged to the administrator.

The specific addresses of the wallets are what are utilized for the management of the staking rewards and the bridge rewards respectively.

The whole Rubic community should be very concerned about this situation now that the private keys to these addresses have been stolen or otherwise compromised.

The executives at Rubic claim that the hackers were successful in inserting hacking software (also known as malicious malware) into their system. Because of this, the hackers were able to obtain access to their system, and they used this to their advantage.

Both RBC and BRBC Have Been Stolen by Hackers

As a direct consequence of this, the RBC and BRBC awards that were staked have been compromised by the hackers. On the decentralized exchange known as Rubic, the RBC acts as the platform's native token.

Whereas, BRBC is a wrapped version of RBC that enables users to carry out trading activities with the token on the BSC network. This version was created by wrapping RBC. Users that make use of the token are able to take advantage of a variety of different perks.

Users who make use of the tokens are relieved of the burden of worrying about the extremely high overall costs. Additionally helpful to RBC's growth is the token's ability to attract new users.

The Hacker Made Off with These Funds

As a result of the vulnerability, the hacker (or hackers) was able to successfully steal BRBC and RBC tokens. The number of the related tokens that the attackers were able to take in total was 34 million.

The tokens were then put up for sale on a handful of other cryptocurrency exchanges by the hackers. PancakeSwap and Uniswap were the names of these exchanges.

The RBC and BRBC tokens that were taken are worth more than $1.2 million in total value. Officials from Rubic also disclosed information regarding the hacker's wallet, which showed that it contained more than 205 Binance Coins.

The hacker was in possession of more than 205,000 dollars' worth of ether in addition to the 205 BNB that were stolen from him.

Almost immediately after the announcement, there was a significant drop in the value of the RBC token. After receiving the latest information from the Rubic officials, the value of the token has dropped by more than 98%.

In spite of this, the token's value has increased by 15% over the course of the past 24 hours, recouping some of the losses that it incurred as a result of the exploit.

Orizu Ebube

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