Express
Unleash Protocol Reports Unauthorized Activity in Contracts, Funds Transferred for Some Users
Summary: In a recent announcement, Unleash Protocol, a platform in the IPFi ecosystem, reported unauthorized activity in its smart contracts resulting in the extraction and transfer of user funds. Preliminary investigations indicate that an external address gained management permissions through Unleash's multi-signature governance mechanism and executed an unauthorized contract upgrade, triggering unapproved asset withdrawals. Assets confirmed ...
In a recent announcement, Unleash Protocol, a platform in the IPFi ecosystem, reported unauthorized activity in its smart contracts resulting in the extraction and transfer of user funds.
Preliminary investigations indicate that an external address gained management permissions through Unleash's multi-signature governance mechanism and executed an unauthorized contract upgrade, triggering unapproved asset withdrawals. Assets confirmed to be affected include WIP, USDC, WETH, stIP, and vIP, which were subsequently transferred to an external address via third-party cross-chain infrastructure.
Unleash stated that the incident stemmed from its own governance and permission framework, with no evidence suggesting that Story Protocol's contracts, validators, or underlying infrastructure were affected. The impact appears to be limited to Unleash-related contracts and management permissions. All protocol operations have been temporarily suspended.
Tags:
Link: Unleash Protocol Reports Unauthorized Activity in Contracts, Funds Transferred for Some Users [Copy]
