Elephant Money, the decentralized finance (DeFi) protocol behind the ELEPHANT token was recently targeted in a cyber-attack.
The attackers attacked its treasury through the automated attack and stole about $11.2 million worth of Binance Coin.
The company with its partner blockchain security company CertiK and Defi insurance protocol InsurAce investigated and assessed the attack.
Source: https://therecord.media/hackers-steal-more-than-11-million-from-elephant-money-defi-platform/
TPRM report: https://scoringcyber.rankiteo.com/company/elephant-money-ltd
"id": "ele01215422",
"linkid": "elephant-money-ltd",
"type": "Cyber Attack",
"date": "04/2022",
"severity": "100",
"impact": "6",
"explanation": "Attack threatening the economy of a geographical region"{'affected_entities': [{'industry': 'Finance',
'name': 'Elephant Money',
'type': 'DeFi Protocol'}],
'attack_vector': 'Automated Attack',
'description': 'Elephant Money, the decentralized finance (DeFi) protocol '
'behind the ELEPHANT token was recently targeted in a '
'cyber-attack. The attackers attacked its treasury through the '
'automated attack and stole about $11.2 million worth of '
'Binance Coin. The company with its partner blockchain '
'security company CertiK and Defi insurance protocol InsurAce '
'investigated and assessed the attack.',
'impact': {'financial_loss': '$11.2 million', 'systems_affected': 'Treasury'},
'investigation_status': 'Investigated',
'motivation': 'Financial Gain',
'response': {'third_party_assistance': ['CertiK', 'InsurAce']},
'title': 'Cyber Attack on Elephant Money DeFi Protocol',
'type': 'Cyber Attack'}