The PeckShield analytics service announced a hack of the popular Arcadia Finance protocol. According to experts, the attack became possible due to an insufficiently thought-out protection system.
Just 3 days after a big hack on the Multichain protocol (at that time the hackers managed to steal about $130 million), a new attack on the DeFi service took place. This time, the Arcadia Finance protocol fell victim to the hack. The theft of funds was noticed by experts from the analytical service PeckShield. The attack was later confirmed and the protocol presented.
According to PeckShield, the hackers took advantage of the “lack of reliable input validation,” but CoinTelegraph experts dispute this theory. However, both sources agree on the amount of funds stolen from protocol clients: the hackers managed to withdraw $455,000 in darcWETH and darcUSDC.
According to crypto-auditor CertiK, in the second quarter of 2023, hacker attacks on DeFi protocols resulted in a cumulative loss of around $300 million. Although the number seems impressive, compared to the same period in 2022, it decreased by 58%.
Author:
Grigory Shcheglov
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
