Fri. Aug 12th, 2022
Source: Adobe/Negro Elkha

Lympo, a developer of a sports non-fungible tokens (NFTs) ecosystem, confirmed that hackers stole LMT 165.2m (worth around USD 16.5m before the hack) from its operational hot wallet today. The token crashed around 99% in a few minutes before recovering some of its losses.

At 17:59 UTC, LMT (Lympo Market Token) trades at USD 0.0093 and is down 92% in a day, per data.

LMT price chart:


Meanwhile, at the same, another token of Lympo, LYM, trades at USD 0.00535 and is down 34% in a day. LYM crashed around 78% following the hack, but rebounded sharply, recovering part of its losses.

LYM price chart:


The team claims it “enacted safeguards to ensure that no additional LMT could be stolen by the hackers” while they have also “temporarily removed” LMT from liquidity pools “in order to minimize disruption to token prices following the hack.”

Lympo stressed that the majority of the LMT reserve is secure in a cold wallet storage.

The attack is still being investigated and the team said they are preparing “a comprehensive plan on how the effects of this attack will be remediated.” The plan should be announced “as soon as it’s available.”

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