Email Hacked, Users Lost 1.6 Million EIGEN Tokens

Bittime - On October 4, 2024, EigenLayer confirmed that one of its investors lost approximately $6 million in 1,673,645 EIGEN tokens as a result of an email hack. In the incident, an attacker managed to access investors' emails, intercept transfer requests, and steal tokens that were then sold and converted into stablecoins via a decentralized platform.

Platform security is maintained

EigenLayer emphasized that this incident was isolated and not caused by a vulnerability in their protocol or smart contracts. They ensure that the platform infrastructure remains secure and that no loopholes or weaknesses in the token contracts are identified. 

The EigenLayer team worked with several centralized exchanges and law enforcement officials to freeze some of the stolen funds, although the exact amount recovered has not been announced.

Additional Security Measures Implemented

Following this hacking incident, EigenLayer took additional security measures, especially regarding communications with investors. They assured users that the wider ecosystem was not affected by this incident and that no other investors' funds were at risk. 

As part of this move, EigenLayer prohibited current and former employees from selling EIGEN tokens provided by Eigen Labs until at least September 30 of this year. The ban on token sales will remain in place until next year, with a phased rollout scheduled for employee and investor tokens between September 2025 and September 2027.

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Community Follow Up

In this context, EigenLayer also plans to launch an educational campaign for users about digital security and how to protect their assets from cyber attacks. 

This education includes best practices such as using two-factor authentication, recognizing phishing emails, and keeping sensitive information private.

With the proactive steps taken by EigenLayer, it is hoped that going forward there will be increased protection of user assets and better risk mitigation in the blockchain ecosystem. This will hopefully restore community confidence and encourage more safe investment in the future.

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