Lympo, a blockchain-powered platform for sports and wellness data storage, announced on Twitter that it was hacked. This news has left the Lympo NFT project in peril as investors are now unable to transfer tokens from their wallets.

The “nft sports” is a platform that allows users to trade their cryptocurrency for goods and services. The company was crippled by a hack in which the hackers stole $23 million worth of digital assets.

Lympo Sports NFT Platform Crippled by Huge Hack

Lympo, a subsidiary of Animoca Brands, is the latest crypto start-up to be targeted by heinous criminals. This time, nefarious hackers made off with 167.2 million $LMT tokens, valued at about $18.7 million at the time of the breach.

Lympo, a platform for sports memorabilia minting, issued a statement indicating that these stains on humanity obtained access to their fleet of active hot wallets, emptying the contents of 10 addresses. The company has reassured customers, however, that the majority of assets are stored in a cold wallet, which has remained safe throughout the event.

Thank you for being so patient! Regarding the January 10th assault, we’d like to give an update from #Lympo CEO @adajonuse.

We’ll provide you additional details about what occurred and what Lympo is doing to put things right! https://t.co/6GOSohYEGA

January 11, 2022 — Lympo.io – Crypto Community (@Lympo io)

When the malicious larcenists swapped their ill-gotten profits for Ethereum, the $LMT token plunged 98 percent. As a consequence, the value of $LMT has plummeted from The repercussions of the deed were immediate, as the $LMT token plummeted 98% when the malignant larcenists exchanged the ill-gotten gains for Ethereum. As a result, $LMT dropped from $0.1141 per token down to a miserable $0.0022. While it has since rallied, it still falls well short of its previous value at $0.024..1141 per token to a pitiful The repercussions of the deed were immediate, as the $LMT token plummeted 98% when the malignant larcenists exchanged the ill-gotten gains for Ethereum. As a result, $LMT dropped from $0.1141 per token down to a miserable $0.0022. While it has since rallied, it still falls well short of its previous value at $0.024..0022. While it has now recovered, it remains well below its original value of The repercussions of the deed were immediate, as the $LMT token plummeted 98% when the malignant larcenists exchanged the ill-gotten gains for Ethereum. As a result, $LMT dropped from $0.1141 per token down to a miserable $0.0022. While it has since rallied, it still falls well short of its previous value at $0.024..024.

In reaction to the incident, Lympo implemented protections to guarantee that no additional $LMT was taken, as well as withdrawing the token from its liquidity pools for the time being. Furthermore, an Animoca Brands spokeswoman said that they are collaborating with Lympo on a recovery strategy. The plan’s contents, however, have not yet been made public.

Read Lympo’s official statement >> Here

 

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