Security firm Salus identified the Revenue Family project as the source of a malicious authorization attack that drained user USDG holdings. Attackers exploited permit signatures to obtain unlimited token allowances before executing transferFrom calls within the same transaction to steal funds, which were subsequently split 80/20 between two hacker addresses.
The incident follows prior red flags from the project, which claimed on October 1 that its social media account was compromised by an internal reviewer. At that time, Revenue Family suspended redemptions and denied that REV is its official token, despite marketing itself as an X Money off-ramp bridge.
Revenue Family Exploited via Malicious Authorization Draining User USDG Funds
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