Cryptomaniac Pilfers $8.4 Million from Revolutionary Wallet Application

$8 Million in Cryptocurrency Lost Due to Zoth Exploit and Admin Leak

A recent exploit in the Zoth cryptocurrency project has resulted in an estimated $8 million in losses, according to reports. The issue was caused by a combination of a vulnerability in the project's smart contract and a leak of administrative access to the affected wallets.

The exploit was first discovered on January 25, when users began reporting that their Zoth funds were being drained from their wallets. An investigation by the Zoth team revealed that an attacker had gained access to the project's administrative dashboard, allowing them to manipulate the smart contract and transfer funds to their own wallets.

The leak was said to have occurred due to a misconfigured API endpoint, which was not properly secured. This allowed an unauthorized party to gain access to the administrative dashboard and manipulate the smart contract.

The Zoth team has since taken steps to rectify the situation, including freezing all affected wallets and launching an investigation into the incident. The team has also promised to reimburse affected users for their losses, although no timeline has been given for when this will occur.

The incident serves as a reminder of the importance of proper security measures in the cryptocurrency space. With the increasing value of digital assets, it is crucial that projects take steps to protect their users' funds and prevent such incidents from occurring in the future.