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The sophisticated exploit involved attackers passing a malicious governance proposal by exploiting smart contracts.

Hacks within the cryptocurrency domain are very frequent. Recently, a decentralized music platform Auduis suffered as it lost 18.5 million AUDIO tokens ($6m) following a malicious attack.

The Audius contracts on the Ethereum mainnet were compromised due to a bug in the contract initialization code. This bug made it possible for the attacker to transfer about 18 million AUDIO tokens.

Decentralized music platform Audius has identified the bug that had allowed a hacker to pass a malicious governance proposal and transfer tokens worth USD 6m, adding that they have applied a patch to regain control of the protocol.

Audius confirmed that there were unauthorized transfers of AUDIO tokens from the community treasury. The scammer swapped the token via the Uniswap DEX for 705 ETH.

Audius, a decentralized music network, had over $1 million worth of cryptocurrency stolen by hackers.

Decentralized music streaming platform Audius has announced that it lost about $1 million to unknown hackers early this morning. According to the streaming platform, it mistakenly passed a malicious proposal that saw more than $5 million worth of the platform's tokens transferred.

A malicious actor siphoned $6 million from music platform Audius through the platform's decentralized governance system. The post Web 3 Streaming Platform Audius Hacked, $6M Stolen appeared first on BeInCrypto.

Hacker drained $1M from Audius after a malicious proposal requesting the 18 million tokens worth $6.1 million was approved in an exploit so let's read more today in our latest cryptocurrency news.

Audius reported that a hacker stole funds from its community treasury using a malicious governance vote.  The post Hacker pockets $1.1 million after stealing from music streaming protocol Audius appeared first on The Block.

Audius's decentralised music streaming protocol in a tweet acknowledged the hacking incident. It said $6 million worth of AUDIO tokens were stolen.

A malicious proposal (Proposal #85) requesting the transfer of 18 million Audius' in-house AUDIO tokens worth nearly $6 million was approved by community voting.

The Ethereum and Solana-based streaming service will allow fans to send their favorite creators the platform's governance token.

In the past few days, the crypto market recorded some gains. The crypto industry has regained the $944 billion total value locked (TVL).

The Audius price prediction sees the bounce on the 61.8% Fibonacci retracement level as being valid to retest the 0.365 price mark.

Binance US is now offering crypto staking services and the firm details that seven digital currencies are currently available with annual percentage yields (APYs) up to 18%. Customers can earn yields on proof-of-stake (PoS) cryptocurrencies that include binance coin, solana, avalanche, livepeer, graph, cosmos, and audius. Binance US Adds Staking Services On Twitter, Binance US […]

Audius is down by 7 percent today. The bearish trend, however, has been consistent for the past few months with May recording 54 percent drop

Audius price is down by 50 per cent in May, Continuing a pattern of the price drop that has seen the crypto lose 73 per cent

Ethereum's richest bagholders have been shuffling their altcoin stacks as ETH and the overall crypto markets teeter. According to data from whale-monitoring platform WhaleStats, Apecoin (APE), a token airdropped to members of the Bored Ape Yacht Club non-fungible token (NFT) community, is the most purchased altcoin among the biggest Ethereum whales at time of writing, […] The post Whales Are Quiety Accumulating ApeCoin, Loopring and Five Additional Ethereum-Based Altcoins, According to WhaleStats appeared first on The Daily Hodl.