RWA Tokenization Protocol Grand Base (GB) Faces $1.7M Loss in Key Breach

RWA Tokenization Protocol Grand Base (GB) Faces $1.7M Loss in Key Breach
Table of Contents


  • Exploitation of security at Grand Base results in losses of $1.7 million.
  • The community is urged to avoid interacting with the affected contract and withdraw liquidity.
  • Grand Base is collaborating with blockchain partners and analysts to recover funds and freeze accounts from hackers.

In the recent news about the Grand Base asset tokenization platform, a security incident is revealed that has significantly impacted the community and the platform’s assets.

 On April 15 at 03:01:27 AM +UTC, an exploit occurred in the platform’s contracts, resulting in the loss of $1.7 million in tokens due to a private key leak.

Given this situation, Grand Base administrators have issued an urgent warning to all community members, urging them not to interact with the compromised contract and to withdraw liquidity immediately.

This preventive action seeks to avoid further losses and protect users assets.

Grand Base’s response has been proactive, working closely with partners and blockchain analysis firms such as PeckShield and CertiK to track the hackers addresses and take steps to freeze the funds.

Additionally, it has openly communicated with centralized exchange houses (CEXs) to prevent the transfer of funds by attackers.

Grand Base (GB) Faces $1.7M Losses Over Key Gap

The situation has generated concern and skepticism among Grand Base users

Some of which have raised concerns about possible hidden flaws in the compromised contract, suggesting the need for a thorough review of internal security and transparency systems by Grand Base and other similar platforms in the DeFi space.

These concerns highlight the importance of implementing proactive measures to detect and address potential vulnerabilities, thereby ensuring trust and protection of user funds in decentralized financial environments.

Despite the ongoing losses and uncertainties, Grand Base has demonstrated a willingness to engage in negotiations with the perpetrators of the attack, aiming to reach a resolution that minimizes further damage.

This incident underscores the perpetual necessity for robust surveillance and stringent security protocols within the blockchain and DeFi ecosystem, particularly within environments handling substantial amounts of value and digital assets.

Such continual vigilance and effective security measures are crucial for safeguarding user funds and maintaining trust in these decentralized financial platforms.


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