Xave Finance Hack

Xave Finance was exploited and the hacker was able to mint over 99% of the $RNBW token's original supply. The accident dropped the token price by more than 99%.

Xave Finance also known as HaloDAO is a platform that aims to provide DeFi operations to traditional financial institutes. $RNBW is an ERC20 token of the project, that is listed on Coinbase. The hacker deployed a smart contract to exploit the DaoModule contract and executed the proposal to take ownership of the contract.

Consequently, the attacker minted 100,000,000,000,000 $RNBW tokens to his address and swapped them for 89,000,000,000,000 $xRNBW tokens. All the stolen amounts sit at the hacker's address at the moment, and their value is unknown.

Attacker address:

https://etherscan.io/address/0x0f44f348…1fc1e2

Malicious contract:

https://etherscan.io/address/0xe167cdaa…ee86d3

Malicious transaction:

https://etherscan.io/tx/0xc18ec2eb…f31f4a