The miners turned $11 into $7 million in 20 minutes. But they couldn't get the money out.

   Hackers conducted manipulations in the network of PegNet stablecoins, as a result, the balance of their purse has increased by 609 thousand times. The funds received were destroyed the same day.

Miners with the help of manipulations in the network of PegNet stakeholders increased the balance of their wallets from $ 11 to $6.7 million. Four hackers in 20 minutes took 70% of the system's computing power, thanks to which they were able to repeatedly increase the rate of pJPY linked to the Japanese yen. After that, the assets were transferred to the pUSD token, but they were not liquidated on the exchange, writes CoinDesk.

According to the chairman of Factom Inc. and one of the organizers of PegNet, David Johnston, the miners were unable to convert most of the pUSD in their own cryptographic currency system PEG, as the protocol does not provide for rapid conversion. The hackers then contacted the developers of the project and stated that they tried to test the network to identify possible vulnerabilities. They destroyed the tokens they received by themselves, sending them to an address for burning the same day.

"The actions of the miners are more like tricks than an attack, given the short duration and actions later," Johnston commented.

Now the developers have announced plans to improve the platform systems to protect against such attacks in the future. The company expects more attempts to attack the service, as the value of assets stored in it increases.

Earlier the hacker hacked into the dForce ecosystem and withdrew $25 million from it, but returned the funds after the exchange reported the IP address of the attacker to the police. There was also information that the developers of the EOS Ecosystem wallet closed their project and allegedly stole $52 million, which belongs to customers.