Overview

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The native token of Near Protocol-based launchpad Skyward Finance crashed by over 95% after hackers drained $3 million in crypto from its treasury. Skyward Finance, an initial DEX offering (IDO) platform, is said to have lost 1.1 million Near Protocol tokens worth over $3 million from a recent attack. A person known as It was brought to light that Skyward Finance, a platform that looks into token distribution for projects on the NEAR protocol was hit with a $3 million attack. About 1.1 million The hacker allegedly redeemed over 1.1 million wrapped Near tokens in a loop from Skyward’s treasury contract in the said transaction. Skyward Finance, an initial DEX Skyward finance, una plataforma IDO que permite la distribución justa de tokens para proyectos en NEAR Protocol, ha sido supuestamente vulnerada por 1.1 millones SKYWARD, the native token of NEAR-based platform Skyward Finance, plunged by 95% after the protocol’s treasury lost $3 million in a smart contract exploit. The Skyward finance, an initial DEX offering (IDO) platform enabling fair token distribution for projects on the Near Protocol, has reportedly been exploited for 1.1 million Near Skyward Finance, a launchpad on Near Protocol, was drained for $3 million in wrapped Near tokens. The hacker exploited a bug in a smart contract used by Skyward After an attack on Skyward Finance, a decentralized platform for launching projects on the NEAR blockchain, the rate of native token SKYWARD plummeted by 95,7% to

3M Near Tokens Lost in Skyward Finance Hack: SKYWARD Price Plummets

The crypto community is reeling after Skyward Finance, a Near Protocol-based launchpad, suffered a devastating hack resulting in the loss of $3 million worth of Near tokens. The native token of Near Protocol-based launchpad Skyward Finance crashed by over 95% after hackers drained $3 million in crypto from its treasury. Skyward Finance, an initial DEX offering (IDO) platform, enabling fair token distribution for projects on the Near Protocol, has reportedly been exploited for 1.1 million Near tokens.

What Happened in the Skyward Finance Hack?

Reports indicate that Skyward Finance, an initial DEX offering (IDO) platform, lost approximately 1.1 million Near Protocol tokens, translating to over $3 million. Skyward Finance, a launchpad on Near Protocol, was drained for $3 million in wrapped Near tokens. The hacker allegedly redeemed over 1.1 million wrapped Near tokens in a loop from Skyward’s treasury contract in the said transaction. A person known as [Source to credible individual reporting the hack] brought to light that Skyward Finance, a platform that looks into token distribution for projects on the NEAR protocol was hit with a $3 million attack.

SKYWARD Token Price Crash

Following the exploit, SKYWARD, the native token of NEAR-based platform Skyward Finance, plunged by 95%. After an attack on Skyward Finance, a decentralized platform for launching projects on the NEAR blockchain, the rate of native token SKYWARD plummeted by 95.7%. This dramatic price drop highlights the risk associated with vulnerabilities in smart contracts, particularly for smaller, newer projects.

Skyward Finance: An IDO Platform on NEAR

Skyward Finance, an initial DEX offering (IDO) platform enabling fair token distribution for projects on the Near Protocol, is designed to provide a secure and transparent method for launching new projects on the NEAR blockchain. However, this recent exploit demonstrates that even platforms with innovative designs are not immune to sophisticated attacks. Skyward finance, una plataforma IDO que permite la distribución justa de tokens para proyectos en NEAR Protocol, ha sido supuestamente vulnerada por 1.1 millones.

The Smart Contract Exploit

The hacker exploited a bug in a smart contract used by Skyward Finance. About 1.1 million... (Further details on the exploit will be added as they become available.) This incident underscores the critical importance of rigorous smart contract audits and security measures to protect user funds and maintain trust in decentralized finance (DeFi).

Impact and Aftermath

The loss of $3 million in Near tokens is a significant blow to Skyward Finance and its community. It remains to be seen how the platform will recover from this incident and what steps will be taken to prevent future attacks. The future of Skyward finance is uncertain after this devastating loss.

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