Hacker stole $ 6 million from cryptocurrency protocol

The Twitter account of Audius, a decentralized music streaming protocol, reported that funds had been stolen from its community treasury.

According to CertiK, an IT security company, the hacker changed certain configurations of the smart contract used by the Audius management system. Thanks to these changes, the attacker was able to become a contract validator.

The hacker then created and approved a governance vote (Proposal #85) to transfer 18 million AUDIO tokens from the community treasury. The exploit occurred at 19:00 on Saturday.

Although the stolen tokens had a market value of more than $ 6 million, the hacker exchanged part of the funds for only 705 Ether ($ 1.1 million). The rest of the funds are still stored at the attacker’s address.

In an update, Audius said it had identified and fixed the issues in its smart contract, adding that it would provide more information soon. In the meantime, transactions have been paused.

Audius is a decentralized music streaming protocol that allows artists to monetize their creativity with a control token and utility called AUDIO. The token can be used on the Ethereum and Solana networks.