Audius

Audius is a decentralized music streaming platform that operates on blockchain technology. It enables artists to upload their music directly to the network without intermediaries. Listeners can stream tracks and interact with content through a web or mobile interface. The platform uses its native AUDIO token for governance, staking, and rewarding participants. Audius is headquartered in the United States of America. The platform is designed to operate without central intermediaries.

In July 2022, Audius suffered a security breach where attackers exploited a flaw in the contract initialization code. The vulnerability allowed repeated calls to the initialize function, leading to the theft of approximately six million dollars worth of AUDIO tokens. About 18.5 million tokens were moved by the attacker and later swapped for roughly 1.07 million US dollars via Uniswap. The stolen funds were subsequently laundered through Tornado Cash, prompting the platform to freeze services temporarily. Despite the freeze, staking and delegate management functions remained paused while the issue was addressed. The incident highlighted limitations in existing audit processes, as the flaw had persisted undetected since deployment despite two prior security audits. No new tokens were minted during the attack, and the circulating supply of AUDIO remained unchanged.