A public tokenized crypto namely WHALES which was founded by a company called Roll has had to face a hack attempt.
In the recent past, a tokenized form of cryptocurrency was launched by a company called Roll. On other hand, Roll is a dedicated company/entity which has been specifically established as a platform for issuing tokenized form of cryptocurrencies.
It was complained off and confirmed by Roll that its tokenized crypto i.e. WHALE was met with a successful hack attack. The complaint was reported by WHALE at the social media network website and soon reviewed by the entire crypto community.
The community was of the view that it was quite some time that they had completely forgotten as if “hack” ever existed. However, the news of the hack had not only shocked them but also worried them a lot.
It was told by Roll that the hack happened within the network’s security level. Resultantly, the hackers managed to breach through the highly protected and sophisticated system and gained unauthorized access.
Soon after the reporting of the incident, issuers of various tokenized cryptocurrencies such as PICA and RARE also showed their support to WHALE. But that was not all, even the online communities and social media networks too showed solidarity with Roll. The incident has been told to take place on 14th March, 2021, which was Sunday.
But since the hack attack, WHALE along with PICA and RARE were able to show incredible progress. Soon after the attack, and in the early hours of Monday, 15th March, all the three tokenized cryptocurrencies have surged for about 50%. While another tokenized crypto namely RLY, which is also regarded as the competition of all the three tokens, scooped All-Time High.
Further details regarding the hack attack suggested that at least 2% to 3% of WHALE’s total supply was subjected to attack. The tokenized currency was thereafter stolen by the hackers. However, Roll was able to save those digital funds which were lying with it in cold wallets. Because the cold wallets are maintained offline therefore they remained unhindered.
According to an online web portal namely MyCrypto.com, the hackers who breached WHALE’s security are now in the process of looting funds. The website told that the hackers have been executing several transactions comprising of multiple WHALES in the form of Ethereum (ETH). The funds have been transferred to an entity called Tornado Cash, which is a part and parcel of the network belonging to Ethereum Blockchain.
Tornado Cash is an online system, which is usually used to hide the trails of the transactions taking place. However, the same is being used by hackers for erasing the evidence, which could possibly lead to their whereabouts.
While WHALE is a famous tokenized crypto that is most popular within the NFT sector.