Analysts at blockchain security firm Blockaid claim that Ambient Finance’s front end may have been targeted by hackers.
Ambient Finance (formerly CrocSwap), a decentralized cryptocurrency exchange backed by Circle Ventures and Jane Street, apparently suffered a front-end hacker attack, allowing bad actors to embed malicious code, the security firm has alarmed blockchain Blockaid in an article X of October 17. .
Following the news, the Ambient Finance team confirmed the issue on their Discord server, stating that they are currently “investigating” the incident. The scale of the attack is still unknown and it remains to be seen whether there will be any casualties. Users are advised to refrain from interacting with the site as hackers may gain unauthorized access to funds.
According to Blockaid, the attackers are using the Inferno Drainer kit and have set up a command and control server “specifically for this attack.”
The incident comes just hours after Radiant Capital, a decentralized finance project built on LayerZero, reported losses of over $50 million due to an attack by unknown parties. According to Ancilia, a Web3 security startup, the hack likely came from a backdoor contract deployed on the BNB Chain network (formerly Binance Smart Chain).
Founded in 2021, Ambient Finance raised over $6 million in a 2023 funding round, reaching a valuation of $80 million. The funding round was led by Blocktower and included participation from Jane Street, Circle, Tensai Capital, Naval Ravikant, Yunt Capital, Susa Ventures, Quantstamp, and Hypotenuse Labs, among others.
