As a seasoned analyst with over two decades of experience in cybersecurity and blockchain, I must say that the recent string of high-profile hacks targeting DeFi protocols is concerning. The latest incident involving DeltaPrime on the Arbitrum network, resulting in a loss of 5.93 million dollars, is just another reminder of how vulnerable these systems can be.
Cyvers, a firm specializing in blockchain security, has disclosed a vulnerability in the Decentralized Finance (DeFi) platform DeltaPrime that runs on the Arbitrum network.
Initially, Cyvers estimated the cost of the incident to be approximately four and a half million dollars. Later, when it became known that funds were moved from DeltaPrime’s DeFi liquidity pools to a “questionable account,” the actual loss was documented as 5.93 million dollars.
DeltaPrime DeFi Hacked on ARB Chain: Millions in Crypto Stolen
As a crypto investor, I’ve come across troubling news about DeltaPrime on the ARB chain. One cybersecurity firm has reported multiple suspicious transactions related to this project. Unfortunately, it seems that the administrator of the protocol’s system has lost control over their personal secret key, which grants access to the smart contracts on the platform. This loss has potentially allowed an intruder to manipulate the proxy smart contract and exploit it.
Some DeFi liquidity pools managed by DeltaPrime, like DPUSDC, DPARB, and DPBTCb, have been affected by the loss of assets. It was also noted that a questionable address has started swapping USDC tokens into Ethereum (ETH). This latest development follows an incident in mid-July involving DeFi cross-chain protocol Li.Fi, which was suspected in the disappearance of almost 11 million dollars worth of cryptocurrencies due to a hack. At that time, it was reported that the extended address linked to the hack contained over 6 million ETH coins and numerous stablecoins.
Earlier in August, there was another incident where an extra $15 million was taken from the Ronin bridge, a platform focused on cross-chain gaming, which has been planning a comparable approach to restore its overall worth.
$5.7M in Stolen Axie Infinity Funds Frozen by Norwegian Authorities
Following the latest probes into the Ronin bridge heist, Sky Mavis recently disclosed an essential piece of information on their platform: The Norwegian law enforcement agency, Kokrim, has the ability to seize up to $5.7 million in assets linked to the Ronin theft.
To the impacted groups within the Axie and Ronin Ecosystem, this accomplishment represented a crucial step forward in pursuing justice and reparations. Although this news signified an end to disheartening incidents for the community, there was immense curiosity about the recovery of the assets.
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2024-09-16 18:55