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Detail Analysis

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Date:

Status:

Count:

Contributor:

November 2, 2020

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Verified

1

zerofriction.io

Loss Amount:

500,000

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Recovered Amount:

-

Currency:

Dollars, ETH

KYC By:

Audit By:

None

None

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Website:

No data

Twitter:

No data

Discord:

No data

Telegram:

No data

Medium:

No data

Github:

No data

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Key Indicators

Platform:

Type:

Category:

Method:

Protocol

Contract Vulnerabilities

Extended Method:

malicious code injection, insider theft

Data Sources:

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On Nov. 2, the Axion Network launched its new token, known as AXN. The project touted the asset as a new investment vehicle, claiming that it would be the most profitable blockchain of its kind to date. During the interim leadup to AXN’s airdrop, five separate teams allegedly examined the token’s code; industry darlings such as CertiK and Hacken were among those who conducted the audits. A few short hours after the protocol’s freeclaim event, however, it became clear that something had gone awry. An unauthorized actor unexpectedly minted 79 billion AXN and unloaded them on the market. The price collapsed in excess of 99%, netting the attackers a cool 1300 ETH — worth an estimated $500,000 at time of publication.

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DISCLAIMER: While Zero Friction LLC has used the best efforts in aggregating and maintaining this database, Zero Friction LLC makes no representations or warranties with respect to the accuracy or completeness, and specifically disclaim any implied warranties of merchantability or fitness for any particular purpose. 

Under no circumstances, shall Zero Friction LLC be liable for any loss of profit or funds, any regulatory or governmental penalties, any legal costs, or any other commercial and non-commercial damages, including but not limited to special, incidental, consequential, or other damages from any or all usage of the dataset or information derived from our database.