Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
DeFi protocol Delta Prime suffers $6 million exploit after admin lost control of private key

DeFi protocol Delta Prime suffers $6 million exploit after admin lost control of private key

The BlockThe Block2024/09/15 16:00
By:The Block

Quick Take DeFi protocol Delta Prime suffered a $6 million exploit after an administrator lost control of the private key. The team says the risk is contained and only affected its deployment on Arbitrum.

DeFi platform Delta Prime has been hit with a $6 million after an administrator’s private key was leaked, Chaofan Shou, founder of security firm Fuzzland, told The Block. The attack occurred on Arbitrum, the largest Ethereum ETH -4.85% Layer 2. 

“A hacker gained control of 0xx40e4ff9e018462ce71fa34abdfa27b8c5e2b1afb, which is the admin of proxies. Then, the hacker upgraded the proxies to point to malicious contract 0xD4CA224a176A59ed1a346FA86C3e921e01659E73,” Shou wrote on X. 

The hacker initially only drained about $4.5 million but was able to continue attacking the protocol to steal funds. 

Delta Prime acknowledged that its deployment on Arbitrum was compromised but noted the variation on Avalanche had not been affected. The company is currently investigating the cause of the “compromised private key.”

“The risk is contained, we're working on asset-retrieval and the insurance pool will cover any potential losses where possible/necessary. Additionally, we're looking into other ways to reduce user losses to a minimum,” the Delta Prime team said.


0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Peanut the Squirrel (PNUT): Honouring Memories And Uniting A Community

What is Peanut the Squirrel (PNUT)? Peanut the Squirrel (PNUT) is a memecoin launched on the Solana blockchain, born from an unexpected and heartbreaking real-world event that resonated across social media. Inspired by the story of Pnuts, a beloved pet squirrel, and his companion, Fred, who brought

Bitget Academy2024/11/08 09:58