Hackers Stole Nearly $480,000 From Blockchain Platform Nuls

The Bitcoin scams news today show that the blockchain platform Nuls has lost around half a million dollars worth of NULS tokens due to a new hack. The hackers stole the NULS tokens and in an official tweet, the platform had detected that 2 million tokens had been transferred, of which 548,354 tokens (around $131,600) had entered the trading market and were now untraceable.

*Security Update* pic.twitter.com/GN41agKgi1

— NULS (@Nuls) December 22, 2019

While the hackers stole a lot of tokens, the platform decided to hard fork the blockchain at block height 87,800 as a response to the theft. They said:

“After the hard fork, the remaining 1451645.65303905 NULS that has not entered the trading market will be destroyed in a permanent freeze to prevent continued flow into the market.”

As the reports in the cryptonews show, the action should help prevent losses to community members as the team claims. On the other hand, the hard fork will be released as soon as possible and the team told its node owners that an upgrade is mandatory and should be complied with ASAP.

As Nuls also revealed after the hackers stole the $480,000, a security vulnerability was detected in the Nuls 2.2 version which has now been fixed. All of this shows that all relevant cryptocurrency exchanges have been contacted and are actively cooperating with the Nuls team.

We can also see that the stolen tokens represent around 2% of the circulating supply of NULS tokens of 73 million. However, as hackers stole a substantial amount – the hack has had little effect on the price of NULS. At press time, it has lost only 1% and is trading at $0.238.

Meanwhile, Nuls is also known for its offices in southwestern China, Singapore and teams in the United States, Australia as well as South Korea. The platform is open-source, enterprise-grade blockchain one which excels when it comes to customizable, modular blockchain infrastructure for a variety of business requirements.

The company also ranked at the fourth place in the latest crypto rankings report from China’s Center for Information and Industry Development. However, the new updates and fact that hackers stole $480,000 from it show that this may change very soon and the value of the company could go down.