Summary: Abracadabra, a decentralized finance (DeFi) platform, suffered a cyberattack resulting in the theft of nearly million in cryptocurrency from its gmCauldrons. The incident has raised concerns across the cryptocurrency market, particularly affecting entities relying on liquidity tokens from decentralized exchanges. Abracadabra is actively working to mitigate the impact and has even offered a bug bounty to the hacker for the return of the stolen funds.
Affected: Abracadabra
Keypoints :
- The cyberattack drained approximately 6,260 ETH, valued at .98 million, targeting Abracadabra’s gmCauldrons.
- GMX, a decentralized exchange, clarified that its infrastructure was not compromised as the issue was specific to Abracadabra’s lending markets.
- Abracadabra has engaged security firms to trace the stolen funds and is in negotiations with the hacker for potential recovery.
Source: https://thecyberexpress.com/abracadabra-cyberattack/