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- 🎉 Hey Gate Square friends! Non-stop perks and endless excitement—our hottest posting reward events are ongoing now! The more you post, the more you win. Don’t miss your exclusive goodies! 🚀
🆘 #Gate 2025 Semi-Year Community Gala# | Square Content Creator TOP 10
Only 1 day left! Your favorite creator is one vote away from TOP 10. Interact on Square to earn Votes—boost them and enter the prize draw. Prizes: iPhone 16 Pro Max, Golden Bull sculpture, Futures Vouchers!
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Post your - 💙 Gate Square #Gate Blue Challenge# 💙
Show your limitless creativity with Gate Blue!
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August 11 – 20, 2025
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2. Include the hashtag #Gate Blue Challenge# in your post title or content.
3. Add a short blessing or message for Gate in your content (e.g., “Wishing Gate Exchange continued success — may the blue shine forever!”).
4. Submissions must be original and comply with community guidelines. Plagiarism or re
The Factom protocol stablecoin network suffered a 51% Attack, with hackers forging $6.7 million blocked.
Recently, a decentralized finance stablecoin network platform based on the Factom protocol experienced a 51% Attack incident. It was reported that four miners joined forces to control 70% of the Computing Power in the entire network and tampered with the platform's data.
These attackers initially had a wallet balance of only $11, but by manipulating the price of the yen-pegged coin, they rapidly inflated their balance to $6.7 million. Subsequently, they converted these funds into stablecoins pegged to the dollar on the platform. However, when the attackers attempted to exchange more tokens in the spot trading system and disperse them to multiple wallets, they encountered failure.
Regarding the incident, an executive from the company stated that the attacker's actions only affected the balance in their own wallet. Due to the protocol design, it does not allow for the rapid transfer of large amounts of assets, and the attacker was unable to transfer a large amount of dollar-pegged coins outside of the platform. Although a large amount of pegged assets was generated, they were unable to liquidate them.
The platform stated that the attack lasted for about 20 minutes but did not affect the security of other users' funds.
Interestingly, after the asset transfer failed, the attackers proactively contacted the platform's official team. They claimed that this action was merely a "penetration test conducted with maximum malice," aimed at identifying potential system vulnerabilities and notifying the core development team. Subsequently, these individuals who called themselves "white hat hackers" also proactively destroyed all problematic stablecoins.
According to reports, the platform that suffered the attack is a decentralized non-custodial stablecoin network, with its stablecoins pegged to various world currencies and assets, including gold, euros, and US dollars. The platform claims to be fully auditable and open-source, supporting value transfer and simplifying the conversion process between different assets.
This event once again highlights the challenges that decentralized finance platforms face in terms of security, and serves as a reminder to the industry of the need to continuously improve technology and security measures to prevent similar attacks.