Abracadabra Drained of $13M in Attack Targeting Cauldrons Tied to GMX Liquidity Tokens

Abracadabra Drained of $13M in Attack Targeting Cauldrons Tied to GMX Liquidity Tokens

The attack targeted pools tied to GMX liquidity tokens, specifically “cauldrons” using GM tokens as collateral.

Urgent Crypto Hack: Abracadabra Offers Massive Bug Bounty After $13M Exploit

Hold onto your hats, crypto enthusiasts! The decentralized finance (DeFi) space has been rocked by another exploit. This time, it’s Abracadabra, a popular DeFi platform known for its MIM stablecoin, that’s in the spotlight. In a startling turn of events, Abracadabra confirmed via X (formerly Twitter) that its gmCauldrons lending contracts were targeted in a sophisticated attack. Let’s break down what we know about this urgent situation and how A…

Nearly $13 million stolen from Abracadabra Finance in crypto heist

The crypto lending platform said the issue was sourced back to a product it calls “cauldrons” — isolated lending markets that allow users to borrow against a variety of cryptocurrencies.

Abracadabra.Money’s GMX pools hacked, $13M lost - WorldNL Magazine

Abracadabra lost $13 million in ETH after a hack targeting GMX-linked pools, but GMX denies its smart contracts were involved in the vulnerability. About $13 million worth of cryptocurrency has been drained from decentralized lending protocol Abracadabra.Money following an exploit targeting pools using GMX tokens.In a March 25 X post, crypto cybersecurity firm PeckShield reported that contracts related to GMX and Abracadabra.Money had been compr…

Hacker steals $13 million in Abracadabra's 'Magic Internet Money' seemingly using a flash loan attack

Abracadabra.finance Exploited For $13M Through GMX Lending Pools - FinanceFeeds

Abracadabra.Finance lost $13 million in a targeted attack on March 25, after a vulnerability in its GMX-linked lending pools — known as “cauldrons” — was exploited using a flash loan. Blockchain sleuths, including Peck Shield, traced the theft to 6,262 ETH drained from the protocol. The attacker zeroed in on cauldrons using GM tokens, which represent liquidity positions on GMX, a decentralized exchange. GMX was quick to clarify it wasn’t directl…