“On 6th of October, 2021 Wanda Exchange’s highly esteemed token launch project faced hacking attempt from a highly professional hackers’ group. Wanda’s stellar IT team was able to defend all of the attacks preventing any major harm, except a little breach.”
How Did the Attack Took Place-And How did Our IT Team Pull it back?
One of the most common practices when it comes to IT is the reuse of existing software (if the license allows it). This is done to make the research and development phase a bit smoother, though it makes the system vulnerable but also provides ease of functionality, and it is fair to use it for minor purposes.
A software was being used for multi-account transfers for purposes like air-drop distributions. And this smart contract (the one attacked) was based on a recognizable API from a software provider that has been used on several other projects too. This was the point of breach that the perpetrators used for their cracking purposes but failed miserably causing negligible damage except from our passive contracts that held just the locked WE imposing zero damage to us.
Aftermaths From the Event
Our IT Team was able to defend the majority of the attacks preventing any major damage. The hackers were able to reach the contracts containing the locked WE that were locked for different time periodsHence they attained zero value through it!
Added security measures after the attack:
- On the same day as the attack took place, new WE tokens were sent to our pre-sale investors, the investors could add new tokens to their Meta mask using the presale page. (https://wanda.exchange/presale)
- We found and fixed the breaches and any other possible crackdown point in our smart contracts on the same day and also contacted the companies using that software on behalf of their clients in order to safeguard other projects too from such attacks. Wanda Exchange commits to enhancing the cyber-security standards and contributing to the crypto community and every step of ours abides by it.
- About the cyber-security measures: We have implemented the highest standards of cybersecurity and data security to ensure the safety of the project. The cryptocurrency world is full of scammers, phishing and malicious software, and web pages that are waiting to steal your funds if they find your project interesting and valuable. And if they find your project really interesting, they will use all of their tools and tactics to break into your contracts.
Final words
Hacker attacks may sound bad, but to us, they didn’t because to us it meant they were really interested in our project and wanted to go through our smart contracts. This adds up to the fact that WE is not just any other ordinary project it contains some intrinsic value that makes it unique and valuable.
However, the most important fact to carry away from here is that the main contacts that protect WE were able to defend 100% of the attacks and are completely secure preventing any kind of damage. This further ensures that WE implement the highest standard of cyber-security measures and is always committed to abiding by the trust that our investors have put in us. Adding up to all of this we will like to add that our main contracts were rated 100% error-free by independent auditors in their audits, which makes us one of the most trusted projects when it comes to cyber-security.
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