Breaking: Oyster Protocol's PRL token appears to have been compromised

29 Oct, 2018
by Arthur Sillers
News
Breaking: Oyster Protocol's PRL token appears to have been compromised

The Oyster Project’s PRL coin is suffering a major attack. It appears an attacker may have breached Oyster’s smart contract protocol, which allowed him to print a huge number of PRL tokens and liquidate them.


It appears that the owner wallet on KuCoin, the exchange on which PRL is traded, executed whats called the ICO function, which is allowing the attacker to currently print massive quantities of the token, which are quickly being turned into Ethereum.

As a result, the token price is seeing a massive plummet of around 60% at the time of writing.


This has led not only to questions about the Oyster projects security, but KuCoin as well. SHL in fact has already suspended trading on the exchange, likely with more blowback to follow.

On the other hand, the Oyster Project mantains that their smart contract protocol has not been breached, and has passed several audits, but they cannot provide a reason that 3 million PRL tokens were minted in the last hour or so.

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Read more about: Oyster (PRL)

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