Vulcan Forged
A blockchain-gaming ecosystem on Polygon whose semi-custodial wallets were drained of about $140M on December 13, 2021. Attackers compromised Vulcan Forged's servers to obtain its wallet-provider (Venly) credentials and export 96 users' private keys; the team reimbursed users from its treasury.
Also known as: Vulcan Forged, PYR, MyForge
Summary
Vulcan Forged is a blockchain game studio that also ran an NFT marketplace and a DEX around its PYR token. On December 13, 2021, an attacker drained about $140 million from 96 user wallets — roughly 4.5 million PYR plus ETH and MATIC. [1][2]
Cause and response
Vulcan Forged managed semi-custodial wallets for users via the provider Venly. According to the company, attackers compromised Vulcan Forged's own servers, obtained the Venly credentials, and used them to export users' private keys (Venly said its own systems were not breached). The team reimbursed affected users from its treasury and said it would move to fully decentralized (self-custody) wallets. [1][2]
Bracketed numbers refer to the numbered sources listed below.
People & entities involved
Sources (2)
See also
- Loci (LOCIcoin)TokensA 2017–2018 ICO for 'LOCIcoin' tied to the InnVenn IP-search platform. The SEC charged Loci and CEO John Wise with fraud for raising $7.6M on false claims about revenue, headcount, and user base; Wise also misused investor funds. Settled with a $7.6M penalty and an officer/director bar.
- Blockchain Terminal (BCT)TokensA 2017–2018 ICO (BCT tokens, ~$30M) for a 'Blockchain Terminal' — a Bloomberg-style crypto trading terminal. The SEC and DOJ said convicted ex-hedge-funder Boaz Manor secretly ran it under a fake identity ('Shaun MacDonald'), using associate Edith Pardo as a front, and lied about the product's adoption.
- Crowd Machine (CMCT)Tokens
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