$1.5M Returned: Whitehat Hacker's Role in Moby Heist

user avatar

by Giorgi Kostiuk

2 years ago

Yesterday, hackers drained $2.5M from Moby, a DeFi platform. However, $1.5M was reclaimed by whitehat hacker Tony Ke.

First Major DeFi Heist of 2025

This year's first major DeFi heist occurred as hackers drained $2.5 million from the Moby platform on the Arbitrum network. A significant portion of the stolen amount was recovered thanks to efforts by whitehat hacker Tony Ke.

How Hackers Executed the Theft

Moby confirmed that a leaked private key enabled the hacker to exploit a proxy contract and activate an emergency withdrawal function. The stolen funds included 207 WETH and 3.7 WBTC. These were converted to ETH and dispersed across many wallets, as reported by Beosin. Tony Ke detected an error in the hacker’s contract and used it to recover part of the funds.

Funds Recovery and Moby's Next Steps

Whitehat hacker Tony Ke reclaimed $1.5 million in USDC, but the remaining funds, approximately $1 million in WETH and WBTC, remain unrecovered. Moby has pledged to compensate all affected users.

Despite losing part of the stolen funds, Moby aims to restore user trust by compensating losses and enhancing security measures.

Tier I

Sector: #18291

Sealed Cache Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, caches will be stored in your inventory and can be opened with Keys.

Other news

Microsoft Stock Surges as Demand for AI Features Grows

chest

Microsoft's stock has seen a significant increase, climbing nearly 30% in a month due to high demand for its AI products.

user avatarMohamed Farouk

Kalshi Ordered to Cease Most Operations in Washington

chest

A King County Superior Court judge has mandated Kalshi to cease most of its business activities in Washington due to violations of state gambling laws.

user avatarElias Mukuru

Potential Peace Deal Between US and Iran Could Boost Markets

chest

Potential peace deal between the US and Iran could boost markets by elevating investor sentiment and reducing inflation.

user avatarDiego Alvarez

Cryptocurrency Market Remains Stable Amid Inflation Changes

chest

The cryptocurrency market remains stable despite falling inflation numbers, with Bitcoin trading around $63,000.

user avatarMaria Fernandez

Asian and US Stock Markets React to Falling Inflation

chest

Asian stock markets showed relief on August 14, 2026, with the US stock market following suit in premarket hours as investors reacted positively to the dip in inflation numbers.

user avatarKenji Takahashi

US Inflation Rates Show Slight Decrease in July 2026

chest

US inflation numbers cooled slightly in July 2026, with the Consumer Price Index dropping, although prices remain higher than pre-US-Iran conflict levels.

user avatarGustavo Mendoza

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.