Summary: Abracadabra Finance suffered a theft of approximately million worth of cryptocurrencies due to a security breach linked to its lending product, “cauldrons.” The company is investigating the incident and collaborating with security firms, while blockchain analytics firm Chainalysis tracks the stolen funds. Additionally, a bug bounty of 20% of the stolen amount has been offered to the hacker.
Affected: Abracadabra Finance
Keypoints :
- Estimated loss of .9 million in Ethereum coins due to a hacker attack.
- Security vulnerability traced back to “cauldrons,” isolated lending markets for cryptocurrencies.
- Investigation ongoing with the involvement of Guardian and other security companies.
- GMX, associated with the collateral, denied any impact from the attack.
- Funds used for the attack linked to Tornado Cash, recently subject to lifted sanctions.
Source: https://therecord.media/nearly-thirteen-million-stolen-abracadabra