Hackers accept stolen funds out of more v,000 user accounts with crowdfunding platform DAO Maker, a site aimed at raising money for crypto projects.

According to a report from DAO Maker CEO Christoph Zaknun, hackers were able to remove roughly $7 one thousand thousand in USD Money (USDC) from 5,251 user accounts at approximately 1:00 am UTC today. The platform said the aggressor used a smart contract exploit to initially steal 10,000 USDC, and then fabricated fifteen more transactions to larn additional funds.

"One of the reasons why this did happen is probably that the amount of deposits inside the [Stiff Holder Offering] contract really exceeded our expectations," said Zaknun in an AMA on Twitch. "Initially, we never expected more than than $2.v million to be deposited in there, but over time, the SHOs became very popular."

DAO Maker claimed users with up to $900 in their accounts "have remained completely unaffected," with the platform moving the funds into dissimilar wallets. Still, the project said information technology would be suspending all deposits awaiting a full Root Cause Assay.

Blockchain intelligence firm CipherBlade is conducting an investigation into the hack and has identified a Binance account associated with the attacker. The platform also said it would exist exploring compensation for all afflicted users.

Despite the name, DAO Maker has no apparent connexion to MakerDAO, the decentralized finance, or DeFi, protocol behind the stablecoin Dai (DAI).

The assail on the crowdfunding platform comes following one of the largest hacks in the DeFi space. This calendar week, an unknown person used an exploit on cantankerous-chain protocol Poly Network to remove at least $600 million from three chains.

Related: Poly Network hacker returns less than 1% of the $600M theft

In a bizarre twist, the hacker has since returned $258 1000000 of the funds and spoken with Poly Network users straight in a Wed AMA using embedded letters in Ethereum transactions. They seemed to have not had a programme to transfer the funds after successfully stealing them, and claimed to exercise the hack "for fun" because "cross-chain hacking is hot."