Weeks earlier, a coder going by the username “UmbralUpsilon”had reached out to Day and Kellar on Discord, offering to create a bot that would make their platform more efficient. How The Hacker Was IdentifiedĪfter realizing that he hadn't heard back from one particular collaborator, Indexed Finance’s contributor Laurence Day searched his chat. Altogether, the hacker had run off with $16 million worth of assets, as per a Bloomberg report. It appeared that the platform had been fooled into severely undervaluing tokens that belonged to its users and selling them to the attacker at an extreme discount. Indexed Finance was built on the Ethereum blockchain, a public ledger where transaction details are stored, which meant there was a record of the attack. It was on October 14th 2021 in England, when crypto platform Indexed Finance was hacked by a then 18-year-old math prodigy.
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