The DeFi protocol DeltaPrime lost a significant amount of funds due to a hacker attack on its Arbitrum pool.
Attack Progress
According to Cyvers Alert reports, a hacker accessed the private key of the DeFi protocol's wallet in the UTC morning hours of September 16. This resulted in DeltaPrime losing $5.93 million. The hacker immediately swapped the stolen USDC tokens to ETH after draining the accessed pools.
Movement of Stolen Funds
These funds were part of the protocol’s USDC, Arbitrum, and BTCb pools. However, the DeltaPrime Red multi-sig wallet remained secure. An onchain analyst reported that the hacker started moving the funds to the Tornado Cash platform.
DeltaPrime's Response
DeltaPrime made an official announcement on its X account following the exploit. The protocol confirmed the attack on its Arbitrum pool, DeltaPrime Blue. The protocol stated that its Avalanche pool was safe due to the use of multi-signatures and cold wallets. They assured that the breach was contained and are working on asset recovery. Additionally, DeltaPrime plans to use the protocol's insurance pool to cover potential losses.
The recent spike in crypto hacks highlights the need for stronger security measures in the DeFi space, with the DeltaPrime incident serving as a stark reminder.
Comments