A $6 million token heist rocked EigenLayer this week.
The blockchain security protocol EigenLayer has reassured its users that their system remains secure, despite an audacious theft of nearly $6 million in tokens.
The incident involved a compromised investor wallet but did not stem from any vulnerability within EigenLayer’s platform.
On October 4, EigenLayer alerted the community about an unauthorized selling event linked to a wallet address ending in “f10D.” This wallet dumped 1.6 million EIGEN tokens, valued at around $5.7 million, triggering an immediate investigation. In response, Etherscan quickly flagged the address for scrutiny.
By October 5, EigenLayer revealed more details, confirming that the unauthorized transaction was due to a hack.
A malicious actor had breached an email thread, intercepting an investor’s token transfer and seizing control of the funds. The attacker swiftly sold the stolen EIGEN tokens through a decentralized swap and converted them into stablecoins, which were later moved to centralized exchanges.
EigenLayer responded by freezing a portion of the stolen assets in collaboration with platforms and law enforcement agencies.
Importantly, the team emphasized that this incident did not exploit any weaknesses in its protocol or token contracts, assuring the community that the attack was isolated and the broader ecosystem remains untouched.
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Despite the security scare, the EIGEN token made its market debut just days earlier on October 1, opening at $3.85 on Binance. This placed its fully diluted valuation (FDV) at $6.5 billion and ranked it 94th in market capitalization.
However, by October 5, EIGEN had slid to $3.38, dropping its FDV to $5.6 billion and pushing it down to the 99th spot in the crypto rankings.
