Stablecoin protocol Prisma Finance hacked for over $11m 

2 Min Read

Stablecoin protocol Prisma Finance skilled a big cyberattack, leading to a virtually $11.6 million loss. 

The protocol’s operations have been quickly halted for an ongoing investigation. This occasion marks the primary important safety breach linked to the rising dangers related to restaking. 

Safety analysts at Cyvers first uncovered the assault and crypto.information reached out to the safety agency for unique particulars of the incident. 

“We have now detected a number of assaults on Prisma Finance Trove Supervisor Contract. The attacker was funded by FixedFloat and seven minutes later deployed a malicious contract that was detected by Cyvers as 2 min earlier than the primary exploit transaction. The exploit is ongoing, and we’ve already detected six exploit transactions with a complete worth misplaced of $9M. “

– Deddy Lavid, CEO at Cyvers

The continued bull market has seen surging actions from hackers. Final week, the Curio defi mission was exploited for $16 million. Simply days earlier, AirDAO was additionally hacked for practically $450,000.

Specialists have additionally warned in regards to the potential enhance in actions from North Korea’s Lazarus group, because the bull market is attracting menace actors at massive. 

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