US EditionArcadia Finance Exploited, $3.5M Stolen and Converted to WETH
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9 Articles
Arcadia Finance Suffers Devastating $3.5M DeFi Exploit On Base Network
BitcoinWorld Arcadia Finance Suffers Devastating $3.5M DeFi Exploit on Base Network The decentralized finance (DeFi) world has once again been shaken, this time by a significant incident involving Arcadia Finance. A recent report confirmed a substantial DeFi exploit, leading to losses estimated at around $3.5 million. This incident serves as a stark reminder of the inherent risks within the crypto space, especially for protocols operating on eme…
Arcadia Finance Hit By $3.5M Exploit, Certik Says - FinanceFeeds
Arcadia Finance has been hit by an exploit that drained around $3.5 million from its platform, according to blockchain security firm Certik. Certik flagged the attack early Tuesday, pointing to suspicious transactions on the Base network. “The exploiter took ~$1.6 million from Arcadia Finance, likely through arbitrary ‘swapdata’ on its rebalancer contract,” the firm posted on X. Hours later, it updated the figure to roughly $3.5 million. Arcadia…
Key Points of the News A malicious contract was injected into Arcadia Finance's Rebalance module, draining approximately $2.5 million in USDC and USDS in seconds by hijacking exchange operations. The attacker took advantage of a flaw in Arcadia's swapData parameters to force fraudulent token exchanges, then converted stolen funds to WETH at Base and connected them to Ethereum. The security firm Cyvers tracked the gap, recommended blacklisting th…
Arcadia Finance Hacked: $3.5 Million Stolen and Laundered as WETH
Arcadia Finance, a decentralized finance (DeFi) protocol operating on the Base blockchain, has suffered a major security breach, resulting in the loss of approximately $3.5 million. The incident unfolded after attackers exploited a vulnerability in the platform’s Rebalancer smart contract, allowing them to drain funds from user vaults and convert the stolen assets into Wrapped […] The post Arcadia Finance Hacked: $3.5 Million Stolen and Laundere…
Arcadia Finance exploited, $3.5M stolen and converted to WETH - WorldNL Magazine
Update (June 15, 9:12 am UTC): This article has been updated to include yet another attack on Arcadia Finance, which brings the total lost sum to $3.5 million.Arcadia Finance, a decentralized finance (DeFi) platform operating on the Base blockchain, suffered an exploit resulting in the theft of about $3.5 million in cryptocurrency.The attacker exploited a vulnerability in Arcadia’s Rebalancer contract by abusing arbitrary swapData parameters, en…
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