Map Protocol token drops 96% following cyberattack
The MAPO token of the Map Protocol network lost 96% of its value due to a vulnerability in the Butter Network cross-chain bridge. As a result of the hack, the attacker managed to illegitimately mint one quadrillion MAPO tokens. According to CoinGecko, the token price plummeted from $0.003 to $0.0001 within hours following the incident. This was reported by Cointelegraph.com .
According to Blockaid's analysis, the attacker sold nearly one billion MAPO tokens through a new externally owned account (EOA) and drained approximately $180,000 worth of 52 ETH from Uniswap liquidity pools. The hacker still holds trillions of tokens, posing a continued risk to other exchanges and pools.
The Map Protocol team confirmed that the error occurred in the Solidity smart contract layer and suspended mainnet operations to conduct an investigation. Project representatives announced that a new contract address will be released and a snapshot of asset states will be taken. All tokens remaining in the attacker's controlled addresses will be deemed invalid and will not be migrated to the new system.
Experts explained that the hacker managed to deceive the bridge by forging a multisig message. In this process, private keys were not stolen; instead, a classic vulnerability related to dynamic fields in the Solidity programming language was exploited. The Map Protocol network is an omnichain network connecting ecosystems such as Bitcoin, Ethereum, BNB Chain, Tron, and Solana.
At least 18 DeFi and blockchain protocols, including projects like THORChain and Transit Finance, have faced cyberattacks this month alone. Additionally, the TON-TAC bridge designed for The Open Network recently reported a loss of $2.68 million.
