Web3 security firm Cyvers has raised alarms over suspicious activity related to Seamless Protocol on the Base network. In a post on X (formerly Twitter), Cyvers reported that a malicious contract was deployed at 11:57 UTC on September 13, followed by an immediate hack. Approximately $130,000 worth of stolen funds were quickly bridged to the Ethereum network and deposited into Tornado Cash, a decentralized crypto tumbler.
Malicious Contract Detected
Cyvers flagged a suspicious contract deployed on the Base network shortly before the hack occurred. The malicious activity began almost immediately after the contract was created, signaling a coordinated attack.
Stolen Funds
The hacker managed to steal around $130,000 worth of funds. The stolen assets were then quickly bridged to the Ethereum network, where they were deposited into Tornado Cash, a service often used to obscure the origin of funds.
Seamless Protocol’s Response
Seamless Protocol responded to the incident by assuring users that their funds are safe and the protocol itself was not exploited. In their statement on X, Seamless Protocol emphasized that the breach did not affect their core platform or user assets.
The flagging of suspicious transactions on Seamless Protocol by Cyvers underscores the persistent challenges facing the security of decentralized platforms. While Seamless Protocol has assured users that funds remain safe, the hacker’s successful extraction of $130,000 through a malicious contract raises questions about vulnerabilities in the DeFi space. As investigations unfold, the crypto community will be watching closely to see how security protocols evolve in response to these incidents.
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