Beosin: BonqDAO attackers profited by manipulating ALBT price and minting large amounts of BEUR tokens

According to the Beosin EagleEye security risk monitoring, early warning and blocking platform monitoring of the blockchain security audit company Beosin, on February 2, 2023, the encryption protocols BonqDAO and AllianceBlock were attacked by price manipulation. The Beosin security team analyzed and found that the reason for the attack was The attacker increased the price of ALBT and minted a large amount of BEUR tokens, then exchanged BEUR for other tokens on Uniswap, and then the price of ALBT dropped to almost zero, which further triggered the liquidation of the ALBT treasury, resulting in a loss of about $88 million , Beosin Trace found that most of the profits are still in the hacker's wallet (0x34483cfc1ea7e59d42a04096f56cd5517bb66b44). The current AllianceBlock and Bonq teams, including all associated partners, are now removing liquidity and halting all exchange trading, while suspending all activity on the AllianceBlock Bridge.