79th Vault Says Operator’s Private Key Was Compromised in Attack

79th Vault said an attacker obtained its operator’s private key on Oct. 7 through a flaw in account-permission management, using the access to withdraw tokens from a contract and trigger a short-lived price spike.

The attacker then converted the assets on-chain into Tether’s USDT and BNB. The breach may have resulted in about $12.5 million in losses.

79th Vault said it has urgently repaired the affected permissions and contract operations and completed a risk review. The attack address has been identified, while efforts to trace the assets continue.

The operator has proposed a white-hat settlement under its bug bounty framework. The attacker has responded, and negotiations remain underway.

79th Vault is also working with exchanges, blockchain security firms and other parties to pursue lawful and practical recovery options.