TechFlow News – According to an official update, the automated market maker protocol MonoX has confirmed that its contracts were attacked and is currently conducting an investigation. MonoX stated that on November 30, 2021, its smart contracts were hacked. The attacker targeted liquidity pools on both Polygon and Ethereum, draining their on-chain assets. The official team has now partnered with security firms and auditors to conduct a comprehensive investigation. The team expressed sincere apologies for the incident and pledged to keep the MonoX community updated on developments.
MonoX explained that the attacker exploited the swap contract to artificially inflate the MONO token price, then used the inflated MONO tokens to purchase all other assets from the pools. Additionally, MonoX expressed willingness to communicate with the attacker.
