In a recent targeted exploit on the BNB Chain, hackers managed to drain over $2.15 million from Mobius Token ($MBU) smart contracts. The breach was detected early on May 11 by security firm Cyvers Alerts. The attackers deployed a contract from address 0xb32a53 at 07:31:38 UTC and initiated the exploit at 07:33:56 UTC, siphoning funds from the victim's wallet at address 0xb5252f.

Cyvers Alerts confirmed to Cointelegraph that the attacker utilized contract 0x631adf to carry out a series of malicious transactions. The malicious smart contract successfully drained 28.5 million MBU tokens, converting them into stablecoins, resulting in a net loss of $2,152,219.99 for the victim. The attackers managed to steal 28.5 million MBU tokens and converted them into approximately $2.15 million worth of USDT.

The exploit was deemed "critical" by Cyvers Alerts, highlighting the attacker's use of suspicious contract code and abnormal transaction patterns. As of the latest update, the attacker's wallet remains active and still holds the stolen funds. However, the team behind Mobius Token has not released an official statement regarding the incident.

Cyvers Alerts detailed in a statement, "Two minutes prior to the exploit, our system identified a deployment of a malicious smart contract that eventually targeted the Mobius Token smart contracts."

This incident adds to the growing trend of cryptocurrency hacks and exploits. In April 2025, blockchain security firm PeckShield reported that the industry witnessed nearly $360 million in digital assets being stolen across 18 hacking incidents. This marked a significant increase compared to the previous month, with losses amounting to about $33 million in March.

One of the notable incidents in April involved an unauthorized Bitcoin transfer. On April 28, blockchain investigator ZachXBT flagged a suspicious transfer of $330 million in BTC. It was later revealed that the transfer was a result of a social engineering attack targeting an elderly individual in the United States.

The cryptocurrency industry continues to face challenges with security breaches and hacks, prompting the need for heightened vigilance and robust security measures to safeguard digital assets. As the market evolves, stakeholders are increasingly focusing on enhancing security protocols to mitigate the risks associated with cyber threats and unauthorized access to crypto assets.

Source: https://cointelegraph.com/news/mobius-token-exploit-bnb-chain-2-1m-loss?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound