Moonwell, a decentralised finance lending protocol, suffered a $1.7 million hacking loss due to an AI-based smart contract error, Cointelegraph reported on Feb. 18.
Moonwell had expected AI-assisted smart contracts to help strengthen security, but the result was the opposite.
AI-generated code created a security gap and ultimately led to the hack.
Cointelegraph said attackers exploited the discrepancy after the Coinbase wrapped staked ether (cbETH) price oracle output $1.12 instead of $2,200.
Parker Smith (파커 스미스), Moonwell's co-founder and CEO, pointed out that while AI can increase coding speed, it can create risk unless security checks are strengthened. Moonwell is currently working to recover the funds and has frozen some assets.
About the Author
Chi-gyu Hwang
delight@d-today.co.kr