LiveArtX: 197 NFTs stolen due to team operational loophole, contract upgraded and related NFTs frozen

2022-10-17 16:25:22

Collection

ChainCatcher news, LiveArtX released an update on the stolen incident in the official Discord channel, stating that hackers gained access to the treasury wallet at 0:24 AM on October 17, stealing a total of 197 NFTs, of which 100 belonged to the treasury and 97 were originally intended for marketing activities. The hackers completed the sale by accepting bids. The team has since upgraded the contract and frozen the related NFTs, reminding users not to purchase. For users who have already purchased, the team will conduct buybacks and provide additional compensation.

The team bears significant responsibility for this theft. They stated that they did not separate the operational wallet from the treasury wallet and failed to implement a multi-signature mechanism for the treasury wallet, with the private key being shared among multiple team members.

Previous report, LiveArtX's official Twitter stated that the official wallet was stolen, and they are doing everything possible to resolve the issue while keeping the community updated.

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LiveArtX hacking NFT

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