Monero Community Crowdfunding Wallet Hacked

Estimated read time 1 min read

The Monero community is reeling from a significant blow as the Community Crowdfunding System. Wallet fell victim to a cyber attack on September 1, 2023. The assailants managed to make off with the entire balance of 2,675.73 XMR, equivalent to approximately $384,000.

cybersecurity firm SlowMist has been diligently investigating the breach, expressing skepticism that the vulnerability lies within the Monero privacy model. Despite their efforts, the specific source of the breach remains undetermined, raising concerns about the robustness of the cryptocurrency’s security measures.

Delving deeper into the incident, it becomes evident that the Monero team faces a daunting task of unraveling the intricacies of the hack. The stolen amount, 2,675.73 XMR, not only represents a significant financial loss but also raises questions about the security infrastructure supporting the Monero network.

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