Spectral Labs said it detected a vulnerability that affected some tokens on its Syntax platform — a no-code environment that lets users create onchain AI agents — allowing a hacker to make off with $200,000.
According to Spectral Labs, access to Syntax was disabled until the issue is resolved, and contracts on the platform were paused to avoid further complications. In a statement to Cointelegraph, Spectral Labs confirmed the source of the vulnerability:
“We suffered a vulnerability in the bonding curve, where the hacker was able to remove tokens at a cheap price. We are fixing the issue and will be running tests thoroughly before resuming.”
The Spectral team added that it is working with industry partners to resolve the situation and restore service as quickly as possible.
Source: Spectral Labs
Related: Crypto lender Polter Finance halts operations after $12M hack
Crypto hacks and exploits plague the crypto industry
According to Immunefi, losses from crypto hacks and fraud topped $71 million in November. Still, 2024 year-to-date losses of $1.4 billion are 15% lower than the same period in 2023, a positive development for the crypto industry.
Despite a reduction in overall losses, crypto hacks and exploits remain a serious threat to digital asset investors. On Nov. 15, the decentralized finance project Thala was hacked for $25.5 million — the second-largest hack of November.
At the time, spokespeople for Thala said the threat actor exploited an “isolated vulnerability” in Thala’s v1 farming contracts, allowing them to drain liquidity tokens from the platform.
On Nov. 18, Thala recovered the $25.5 million in funds and was able to identify the hacker with the aid of law enforcement, though the hacker’s identity has not been made public.
The DEXX onchain trading terminal experienced the biggest losses for the month in a private key leak on Nov. 16. The losses from the hack were initially estimated at $21 million, but later swelled to about $30 million.
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