Hacker steals 18 million AUDIO tokens from music streaming protocol Audius

Decentralized music streaming protocol Audius has suffered a malicious attack.

Audius reported that a hacker stole funds from its community treasury using a malicious governance vote.

Security firm CertiK has it that the hacker successfully modified certain configurations in the smart contract used by Audius’s governance system.

The hacker was able to become the “guardian” of the contract, with these changes.

The hacker then proceeded to create and approve a governance proposal requesting a transfer of 18 million AUDIO tokens from the community treasury.

While these stolen tokens had a market value of more $6 million, the hacker could only sell them for 705 ether ($1.1 million) amid high amounts of market slippage.

Audius said that it had identified and fixed issues in its smart contract.

Audius is a decentralized music streaming protocol that allows artists to monetize their work using the governance and utility token called AUDIO.

The token could be used on Ethereum and Solana networks.