@philipstrade
Abracadabra loses $1.8 million in protocol's third major DeFi hack since 2024
In the attack, which occurred late Saturday night, an unknown threat actor leveraged a smart contract vulnerability to bypass solvency checks, allowing them to extract 1.79 million MIM from the protocol, according to security firm BlockSec Phalcon. The attack wallet's initial funding came from mixing protocol Tornado Cash; following the attack, the attacker swapped the tokens for ETH and sent it back to Tornado.
"A potential attack vector was identified today in some deprecated contracts. The issue has been mitigated and closed," DAO contributor 0xMerlin wrote on the protocol's Discord server. "The affected MIM (although minimal) was bought back from the market using the DAO treasury and is currently awaiting repayment to the DAO treasury in ETH...No user funds have been affected."
https://www.theblock.co/post/373453/abracadabra-loses-1-8-million-in-protocols-third-major-defi-hack-since-2024
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