Social Token Platform Roll Got Exploited For $5.7M

Social platform for the exchange of crypto assets, Roll exchange, had recently been a victim of $5.7 M exchange exploitation by attackers. A very special feature issued by Roll exchange has provided different fans and followers with a reason to be its part in the return of complete satisfaction and loyalty from Roll exchange. That special feature is mint branding, which is aligned for unique digital tokens that are the doorways towards follower’s satisfaction.

According to the announcement made on the 14th of March, the unexpected attack on Roll exchange’s hot wallets happened. The attackers used Uniswap as a source to convert stolen tokens into ETH that resulted in the token drainage.

The statement recently issued by Roll in a blog post further elaborated that there wasn’t anything wrong with Roll’s smart or token contracts, and it was because of the compromise in its private keys.

The hackers had already sold the stolen money, and as a result, Roll is going to provide $500,000 to each and every member of the community. Further details will be provided soon to them.

Lifting of 3000 ETH

Igor Igamberdiev, a Research Analyst, had dived straightly into the incursion and outlined that hackers who stole $5.7M from Roll’s hot wallets had earned 3000 ETH.

According to Igor, 700 social tokens from Roll’s wallet had already been sold to market named Tornado Cash. He further added that such markets do not last long and soon will be crashed.

Igamberdiev emphasized the fact that if private keys were compromised, it was clearly the fault of someone inside the Roll exchange. He said that clearly, someone inside the Roll had deceived and compromised with the private keys by allowing transfer function approval for such executions that resulted in the huge loss.

Roll apologized to its creators, and the creators as well are now waiting for the fund that Roll is going to be announcing soon to help their communities.

Different celebrities, artists and content creators had used these specific Social tokens for many reasons. They might be used for buying memos, art structures and also used for igniting fan following by different celebrities.

According to Coingecko’s social token trackers, some statistical data was collected, and as expected, the results were merely disappointing. Bigger communities like FWB, KERMAN, WHALE and MORK had a dump of 96%, 40%, 25% and 72%, respectively.

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