The self-sovereign financial services provider BonqDAO was exploited via an Oracle hack, resulting in the theft of $110 million in cryptocurrency from the protocol. During the attack, the attacker was able to manipulate the price of AllianceBlock Wrapped Tokens (wALBT) and steal 100 million wALBT worth more than $10 million. PeckShield, a blockchain security firm, discovered that the exploit altered the updateprice function of an oracle in one of BonqDAO’s smart contracts. This allowed for the manipulation of the wALBT token price. The exploiter was able to generate 100 million BEUR tokens worth more than $100 million thanks to the increased wALBT value. The stablecoin of the BonqDAO protocol is BEUR. The hackers walked away with 113.8 million wALBT and 98 million BEUR tokens at the end of the exploit.
