Map Protocol token plummets 96% after a quadrillion token mint exploit
The attacker tricked the Butter Network cross-chain bridge into minting millions more tokens than the legitimate supply of MAPO.
MAPO, the native token of the Map Protocol, fell 96% on Wednesday after an exploit of the Butter Network cross-chain bridge, which allowed an attacker to mint a quadrillion MAPO tokens.
The malicious mint was tens of thousands of times larger than the legitimate supply of tokens, sending the value of MAPO from around $0.003 to $0.0001 in a matter of hours, according to CoinGecko.
The attacker used a new externally-owned account (EOA) to dump around a billion MAPO tokens, draining about 52 ETH, worth about $180,000, from Uniswap liquidity pools while retaining nearly a trillion tokens that continue to threaten other pools and potential exchange listings, reported Blockaid on Wednesday.