US EditionDeFi Platform Cork Protocol Suffers $12M Smart Contract Exploit
- On May 28, 2025, at 11:23 UTC, a smart contract vulnerability was exploited on Cork Protocol, resulting in the loss of approximately $12 million worth of wrapped staked Ethereum tokens.
- The breach occurred after a malicious contract was deployed from an address funded by 0x4771&762B, likely linked to a service provider used by Cork Protocol.
- The attacker executed the exploit within 16 minutes, rapidly swapping about 3,761 wstETH for Ethereum, while Cork Protocol paused affected markets and initiated an active investigation.
- Phil Fogel, co-founder of Cork Protocol, announced that the team is looking into a possible security issue and has temporarily halted all contracts, assuring that updates will be shared shortly.
- This incident highlights the risks of wrapped tokens and smart contract vulnerabilities, as Cork Protocol works with auditors to secure its platform and restore user trust.
14 Articles
14 Articles
Cork Protocol Theft Costs It $12M
DeFi platform Cork Protocol has suffered a major security breach due to a smart contract exploit, resulting in the theft of around $12 million of digital assets. Blockchain security firm SlowMist first flagged the exploit, which was later confirmed by Cork Protocol founder Phil Fogel on X. Cork Protocol has paused all smart contracts and trading on the platform as a precautionary measure as it investigates the breach. This story is an excerpt fr…
DeFi Platform Cork Protocol Suffers $12M Smart Contract Exploit
Decentralized finance (DeFi) platform Cork Protocol has suffered a smart contract exploit, with hackers reportedly stealing $12 million worth of wrapped staked ether (wstETH).Blockchain security monitor Cyvers noticed the exploit, stating that the malicious contract was deployed by a wallet likely funded by a service provider.It added that $12 million worth of wstETH was quickly swapped for ETH.Cork Protocol received investments from a16z crypto…
Phil Fogel Reacts to Cork Protocol $12M Hack - Blockchain & Cryptocurrencies Tabloid
Phil Fogel suspends all contracts following a $12M hack on Cork Protocol, ensuring an in-depth investigation. The post Phil Fogel Reacts to Cork Protocol $12M Hack appeared first on Blockchain & Cryptocurrencies Tabloid.
Cork Protocol Pauses Contracts Amidst Investigation Of Potential Exploit
Some reports suggest that Cork Protocol may have suffered a loss of approximately $12 million in the suspected breach At the moment, the attack is presumed to have been due to a private key leak or phishing incident involving a service provider The DeFi platform is backed by notable investors such as a16z, OrangeDAO, Ideo Ventures, and Outliers Fund Phil Fogel, co-founder of Cork Protocol, announced via X that the team is investigating a potenti…
Cork Protocol suffers heavy exploit, $12 million lost
Decentralized finance protocol for tokenizing the risk of debug events for stablecoins and liquid (re)staking tokens, Cork Protocol has suffered exploitation. In a post on its official X page on Wednesday, the protocol confirmed the loss of about $12 million in wrapped staked ETH or wstETH. Cork Protocol attackers converts 3,761.87 wstETH to Ethereum Security analytic firm, Cyvers also confirmed the exploitation, stating that the malicious contr…
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