DeFi gambling protocol GMBL computer used for 500 ETH, funds returned

Someone has taken advantage of the newly launched Decentralized Finance (DeFi) gambling yield protocol called GMBL Computer. However, the news is not all bad as they have the identity of the hacker, have requested a refund and it appears they have been partially successful.

On 6 September, Arbitrum-based GMBL Computers reported that an attacker was able to spoof calls to obtain signatures from its servers.

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it couple The signature was passed to the contract, allowing them to “exit approximately 500 ETH worth of GMBL out of the contract.” At current prices, the DeFi exploit would be worth around $800,000.

The protocol team said that this was not a contract vulnerability, and that it had identified the root cause, which is off-chain.

The protocol team said, “The hacker is completely outwitted.”

“Thanks to our great community, we have all their information and will begin the process of recovering the funds. We are offering a bug bounty to avoid legal action if the money is returned.

A few hours later, GMBL asked the hacker to treat it as a white hat. He asked to return 90% of the funds to his Arbitrum wallet, keeping 10% as a reward.

It threatened, “If we do not receive the funds by 9 pm EST tomorrow, we will proceed with legal action.”

Screenshot of the GMBL Computer reward message after the exploit. Source x/@gmblcomputer

There was a lot of reaction to this. Some asked, “If the hacker was ‘fully doxed’, why is there a need for a return message on the transaction?”

There were also claims of internal jobs. Others questioned the legitimacy of the DeFi gambling platform taking legal action.

Fund recovery is in progress

A few hours later, GMBL Posted that “we got half of the money stolen from the hacker back into our multisig.” However, allegations of pulling the rug around were still flying.

GMBL Computers is a DeFi gambling protocol. The casino protocol claims to generate income for the stakeholders by sending their profits to the house.

It appears to have jumped on the “racing hamster” bandwagon, offering gambles and a cut of the winnings.

They launched the protocol on September 5th, and in less than 24 hours someone took advantage of it.

According to it, its GMBL token dropped by 75% after the exploit GeckoTerminal,


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