Latest Security Breach hits Arbitrum; Hedgey Finance Loses $1.9 Million in Hacker Attack
The post Latest Security Breach hits Arbitrum; Hedgey Finance Loses $1.9 Million in Hacker Attack appeared first on Coinpedia Fintech News
The crypto market has suffered yet again, due to a recent exploitation on the ARB chain and a big hack on the Hedgey Finance token claim contract that resulted in a huge financial loss for the protocol.
Attacker Steals Over $40 million in TokensA web3 security firm, cyvers, flagged the hack and revealed that the attack on the ARB platform was arranged by a suspicious address – 0xc7241e27ee4b8d32b59a10e848b48530047a8c5b, as a result of which the sum of $42.8 million in tokens was withdrawn.
Despite numerous attempts to appeal for assistance from the targeted victims, their plea has never been acknowledged, and it seems unresolved. The attacker has already made a substantial deposit, including 200,000 $BONUS tokens and $110,000 to Bybit_Official, which clearly shows one attack involving different cryptocurrency networks from different kinds of exchanges.
Earlier Hedgey’s Finance led to a loss of almost $1.9 million. The attacker, whose financing source has been linked to ChangeNOW_io, immediately changed the stolen funds to DAI and sent them to an externally owned account.
