Odaily Planet Daily reports, according to Paddy-earthling monitoring, Injective allegedly suspended operations for approximately four hours due to a binary options vulnerability. The attacker exploited a deactivated but still registered oracle, Frontrunner, to steal approximately $4.9 million. The oracle’s data source had long been emptied; the attacker created 299 markets pointing to this oracle. Unable to retrieve price data, the system triggered the “no-price refund” mechanism, which the attacker then exploited to receive approximately double the payout. The attacker subsequently exchanged USDC for about 1,980 ETH, valued at roughly $4.9 million. The related assets are currently held in an Ethereum wallet that has never sent a transaction. Paddy-earthling noted that after the attack, Injective’s official account continued posting marketing content without mentioning that the chain had been suspended.
Injective suspected of halting for 4 hours due to binary options vulnerability, $4.9M stolen
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Summary
Injective experienced a four-hour halt after a vulnerability in a binary options market was exploited, resulting in $4.9 million being stolen via a deprecated oracle. Attackers created 299 markets using Frontrunner, triggering a refund mechanism that doubled payouts. The stolen funds were converted into 1,980 ETH and stored in a dormant wallet. During the incident, the team continued posting marketing updates. Traders are advised to monitor altcoins with active options market exposure.
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