Algodex says a “malicious actor” has infiltrated its corporate wallet, while MyAlgo has renewed warnings for users to withdraw their funds after a security breach last month.
Algodex said a malicious actor has infiltrated a company wallet, while wallet provider MyAlgo has renewed warnings for users to withdraw their funds now after a February security breach.
However, the infiltrated wallet was tied to Algodex’s liquidity rewards program and was responsible for providing extra liquidity to the ALGX token.”This resulted in the malicious actor being able to remove the Algo and ALGX in the Tinyman pool created by us to provide additional liquidity to the ALGX token,” Algodex said.
The exchange noted that $25,000 in ALGX tokens meant to provide liquidity rewards were taken but said it would replace this in full.It added that the total loss from the theft was less than $55,000, but Algodex users and the liquidity of ALGX were not affected.
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