• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

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

user avatar

by Giorgi Kostiuk

a year 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.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Chainlink CCIP v16 Upgrade Enhances Interoperability with Solana Support

chest

Chainlink has announced the release of its CCIP v16 upgrade, which enhances interoperability by introducing support for Solana and improving flexibility across various virtual machine designs.

user avatarBayarjavkhlan Ganbaatar

XRP Holds Above Key Psychological Level Amid Market Uncertainty

chest

XRP is trading around the critical $1 level, which is being closely monitored by traders as the cryptocurrency market awaits direction.

user avatarMohamed Farouk

Open Standard Launches Open USD Stablecoin to Challenge Market Leaders

chest

Open Standard has launched Open USD, a dollar-backed stablecoin supported by over 140 businesses, aiming to challenge market leaders Tether and Circle.

user avatarElias Mukuru

Solana's Price Drops Below 80 Amidst Ongoing Ecosystem Development

chest

Solana's price has fallen below the 80 mark, raising caution among traders, but the ecosystem continues to grow with real-world assets and DeFi activities.

user avatarDiego Alvarez

Revised Editorial Guidelines Target Improved Content Quality.

chest

A new editorial policy has been established to ensure accuracy, relevance, and impartiality in content.

user avatarKenji Takahashi

New Editorial Policy Launched to Ensure Content Quality

chest

A new editorial policy has been established to enhance the quality of content.

user avatarMaria Fernandez

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.