NFT platform Lympo hacked for $18.7 million

By Imogen Smith

January 12, 2022 0

Animoca Brands’ sports NFT minting platform Lympo experienced a hot wallet security breach suffering losses of 165.2 million LFT tokens worth up to US$18.7 million.

Lympo released a short statement on Medium saying that “hackers managed to gain access to Lympo’s operational hot wallet and stole a total of approximately 165.2 million LMT from it.” The statement revealed that approximately ten different wallets were affected by the hack.

Lympo also said via Twitter that the team was working “on stabilising the situation and resuming all operations back to normal,” and that they removed liquidity LMT from liquidity pools to “minimise disruption to token prices.”

LMT shares fell by 92 per cent after hackers moved the money from the hot wallets to separate accounts.

This attack appears to be the second hot wallet hacking crime this week with centralised crypto exchange LCX experiencing a security breach on one of its hot wallets, leading to a loss of nearly $7 million.