NULS Project Loses Almost $480K Worth of Tokens to Hackers; Over 25% Now Untraceable

Little know blockchain project, Nuls revealed Dec. 22 that hackers stole 2 million tokens (appr. $480,000) from an account that belongs to the team of which 548,354 tokens (appr.$131, 600) had entered the trading market and can no longer be traced. 

In a security update confirming the development, the NULS team revealed it immediately took steps to ensure that the remaining tokens which has not entered the trading market will not adversely affected holders of the token.

As one of such measures the NULS team announced it would carry out an emergency hardfork of the network to ensure that the remaining “1451645.65303905 NULS will be destroyed in a permanent freeze to prevent continued flow into the market.” The hardfork would be implemented on block height 87,800 according to NULS.

Additionally, the project mentioned that it is working closely with crypto exchanges to try and recover the stolen funds even though no remarkable progress had been recorded so far. 

Reason for the NULS Network Hack

In its update, the NULS team claimed that it had fixed the vulnerability which led to the loss of the tokens and urged node operators to promptly upgrade their systems. 

“The reason for this attack is a security vulnerability in NULS 2.2 version which has been fixed,” a section of the announcement read. 

Meanwhile, the latest development comes just a few weeks after another high-profile blockchain project, VeChain lost (add amount lost) funds in its buyback address to hackers.

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