A security breach has drained 2,675.73 XMR from Monero’s community crowdfunding wallet, sparking concerns in the Monero community. Learn about the incident and its potential implications.
Monero’s community crowdfunding wallet recently fell victim to a devastating attack, resulting in the loss of 2,675.73 Monero (XMR), equivalent to nearly $460,000. This breach, which occurred on September 1, was only disclosed on November 2 by Monero developer Luigi. The cause of the breach remains unidentified, leaving the community in shock.
The compromised wallet, part of Monero’s Community Crowdfunding System (CCS), funds development proposals from its members. Notably, the wallet’s entire balance was drained, impacting contributors who rely on these funds for their livelihood.
Two individuals, Luigi and Ricardo “Fluffypony” Spagni, were the only ones with access to the wallet seed phrase. While the source of the breach remains a mystery, there are suspicions that it might be linked to ongoing attacks seen since April. The breach has raised concerns about wallet security and the potential vulnerabilities in developers’ systems.
Monero’s core team is now considering using the General Fund to address the financial fallout from this incident.