Hacks and exploits continue to affect the decentralized finance sector as another vanity wallet address joins the list of DeFi victims.
In an alert published by blockchain security firm PeckShield, a hacker was detected after stealing 732 Ether from an address created at the Ethereum vanity wallet address generator called Profanity.
Vanity addresses are customized crypto wallet addresses that are generated to include words or specific characters chosen by the owner. However, as pointed out by recent exploits, the safety of vanity addresses remains questionable.
Decentralized exchange aggregator 1inch Network warned community members that their addresses were not safe if they we generated using Profanity. The DEX called out crypto holders with vanity addresses to transfer their assets immediately. According to 1inch, the vanity address generator used a random 32-bit vector to seed 256-bit private keys, which means that it lacks safety.
Recently the United Kingdom-based crypto market maker suffered an exploit that led to $160 million in losses. The exploit may have been due to the firm’s hot wallet being compromised and manipulating a bug in the smart contract.
