The protocol developers asked users to withdraw their funds as they are fully locked out of the contract and cannot prevent any future losses.
for noticing the treasury drain, he pinged me asking if something is wrong with skyward… then we looked into contract txns and found out about the exploit and sus txns.The hackers first purchased SKYWARD tokens in large quantities from Ref Finance, an automated market maker and decentralized exchange on the NEAR protocol. Afterward, they redeemed the tokens through Skyward’s treasury, receiving more NEAR tokens than what the SKYWARD tokens were worth.
The attackers repeated the process multiple times until all the wrapped NEAR tokens were redeemed. In one transaction, the exploiters made away with 1.1 million wNEAR tokens worth about $3 million as of then.Naikwadi said he alerted Skyward Finance and Ref Finance about the hack and urged SKYWARD token holders to redeem or swap their tokens in whichever way they could.
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