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Mobius Token Exploit Drains $2.1 Million on BNB Chain

The DeFi space witnessed another security breach as Mobius Token suffered a $2.1 million exploit on BNB Chain. Attackers exploited a vulnerability in the project’s smart contract, manipulating the token minting function to illegitimately create and drain funds. Security analysts confirmed this wasn’t a flash loan attack but a previously unknown contract weakness.

Mobius developers have temporarily suspended contract operations while investigating the breach. This incident adds to BNB Chain’s growing list of security challenges in 2023, though the amount stolen remains smaller than major DeFi hacks. The team is collaborating with exchanges to trace the stolen assets and has promised a detailed post-mortem.

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Written by 365int

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