An Altcoin Got Hacked; Most of the Supply Fell into the Hackers’ Hands

A serious security breach has been reported against the Sweat project, which operates within the $NEAR Protocol ecosystem.

Initial findings indicate the attack began today at 16:36 UTC+3 and was completed in just about 30 seconds. During this brief period, the balances of multiple Sweat Foundation wallets were emptied, and a total of approximately 13.71 billion SWEAT tokens were compromised. This amount represents roughly 65% of the circulating supply.

Security researchers tracing the funds obtained after the attack stated that the assets were moved through various channels. Accordingly, the attacker routed the tokens primarily through various DeFi platforms, including Ref Finance, and also performed cross-chain transfers using the Wormhole/Portal Bridge infrastructure.

Technical analysis reveals that the attacker went beyond standard methods, using a specially developed “drainer” smart contract. This contract, reportedly based on Rust, operates through a crate called “exploit-resolve” and is optimized to quickly drain assets from target wallets.

According to the latest data, the attacker controls approximately 17.71 billion SWEAT (approximately $3.46 million) in total. The breakdown of these assets is as follows:

• SWEAT, worth approximately $2.68 million, is held at the main (hub) address.
• Approximately $761,000 has been transferred to the second-stage address.
• Approximately $20,000 has already been converted to $NEAR and USDC.

*This is not investment advice.