Hacking incidents in the cryptocurrency market seem endless. The latest news comes from Ethereum (ETH).
Blockchain security firm CertiK reported that Syndicate’s Commons bridge had been compromised.
According to CertiK, Syndicate, an Ethereum infrastructure platform used to create rollups and sequencers, suffered a security breach resulting in losses of at least $330,000.
The Syndicate team, in a post on Platform
The team said it was investigating a breach in the Commons Bridge and was in contact with security companies.
The team also added that it would compensate for the damages.
“…We are also looking at options to compensate people.”
The syndicate has enough tokens to compensate for the lost SYND tokens.
CertiK also added that it determined that the attacker obtained approximately 18.5 million SYND and sold it for approximately $330,000, after which the money was transferred to Ethereum.
Following this news, the price of SYND saw a significant drop and Coinone, one of South Korea’s largest cryptocurrency exchanges, announced that it had added Syndicate (SYND) to its delisting watchlist.
*This does not constitute investment advice.
