According to recent updates, the GameFi project HeroCat is indicating signs of a rug pull. It has noticed its value plunge by 99%. Peckshield and CoinGecko data claims that the game’s token HeroCat Token (HCT) has lost more than 99.5 % of its value. Along with it, a decentralized finance (DeFi) platform has reportedly lost millions of dollars in a recent hack.
According to reports, HCT’s price has lowered down from $0.0097 to $0.00002 in the past 24 hours. According to recent data, HCT’s all-time high reached $3.8 million but presently it is below $500.
Reports also states that HCT made a big sale and transferred about $151,000 worth of Binance USD.
However, HeroCat GameFi has released no updates yet.
On the other hand, hackers exploited Cream Finance, a DeFi platform. According to reports, the hack was executed because of the introduction of a bug by [the] AMP token.
The execution follows the hacker making a flash loan of 500 ETH and depositing the funds as collateral. After that the threat actor borrows 19M $AMP and uses the reentrancy bug to re-borrow 355 ETH inside $AMP token transfer. Finally the hacker self-liquidates the borrow.
According to statements by the company, the hacker executed the above process 17 times to gain a total of 5,980 Ethereum (ETH) with about $18.8 million.
Cream Finance updated that they have stopped the attack by temporarily blocking supply and borrow on AMP.
