Analysts at blockchain security firm Blockaid report that the front-end of Ambient Finance has allegedly been targeted by hackers.

Front-End Attack on Ambient Finance

Ambient Finance, a decentralized cryptocurrency exchange formerly known as CrocSwap and backed by Circle Ventures and Jane Street, has reportedly suffered a front-end hacker attack. This breach allows malicious actors to embed harmful code, as highlighted by blockchain security firm Blockaid in an urgent announcement on October 17, 2024.

🚨 URGENT: We have detected a potential frontend attack targeting @ambient_finance. If you’re connected, please refrain from signing transactions and avoid interactions with the dApp until the issue is resolved. More updates soon.

Immediate Response from Ambient Finance

The Ambient Finance team confirmed the issue on their Discord server, stating that they are currently investigating the incident. The full extent of the attack remains unknown, and it is unclear if any users have been affected. Users are strongly advised to avoid interacting with the platform to prevent unauthorized access to their funds.

Details of the Attack

According to Blockaid, the attackers are using the Inferno Drainer kit and have established a command-and-control server specifically for this attack.

Context of Recent Attacks

This incident follows closely on the heels of another attack on Radiant Capital, a decentralized finance project built on LayerZero. Radiant Capital reported losses exceeding $50 million due to an attack by unknown individuals. Web3 security startup Ancilia suggests that this hack likely originated from a backdoor contract deployed on the BNB Chain network.

Background on Ambient Finance

Founded in 2021, Ambient Finance raised over $6 million in a seed round in 2023, achieving a valuation of $80 million. The funding round was led by Blocktower and included participation from Jane Street, Circle, Tensai Capital, Naval Ravikant, Yunt Capital, Susa Ventures, Quantstamp, and Hypotenuse Labs, among others.

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