An Attacker Hacks Ordinals Analogue on Ethereum’s Blockchain

Tom Lehman, head of the Ethscriptions protocol, has recently announced that the system has been hacked, resulting in the withdrawal of 202 assets from 123 addresses in the vault.

He has since taken responsibility for the incident, citing a flaw in his smart contract code which allowed the attacker to show assets which were not theirs.

Lehman told reporters that he wishes to continue building the Ethscriptions ecosystem, despite the security breach, and will work towards restarting the marketplace following the necessary changes.

The protocol was launched on July 19 and reached over $1 million from user trades within the first 18 hours.

In June, stats from the Dune dashboard showed that close to 450,000 artifacts had been minted. The hacker was reportedly able to steal rare Ethscription #56, which had been sold on the OpenSea NFT marketplace for 5 ETH ($9600) prior to the attack.

This has proven to be a “heavy” loss according one report. Though the protocol had previously been running smoothly, the team’s attempt at migration to the BRC-721E standard was more unfortunate.

This is a protocol that allows NFTs from the Ethereum network to be transferred to the bitcoin network