{"id":22416,"date":"2025-03-25T19:47:14","date_gmt":"2025-03-25T17:47:14","guid":{"rendered":"https:\/\/forklog.com\/en\/abracadabra-finance-protocol-suffers-13-million-hack\/"},"modified":"2025-03-25T19:47:14","modified_gmt":"2025-03-25T17:47:14","slug":"abracadabra-finance-protocol-suffers-13-million-hack","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/abracadabra-finance-protocol-suffers-13-million-hack\/","title":{"rendered":"Abracadabra Finance Protocol Suffers $13 Million Hack"},"content":{"rendered":"<p>Hackers have stolen 6260 ETH (approximately $13 million) from the pools of the DeFi project Abracadabra Finance, according to analysts at PeckShield.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">.<a href=\"https:\/\/twitter.com\/GMX_IO?ref_src=twsrc%5Etfw\">@GMX_IO<\/a> <a href=\"https:\/\/twitter.com\/MIM_Spell?ref_src=twsrc%5Etfw\">@MIM_Spell<\/a> related contracts have been hacked for ~6,260 ETH (worth ~$13M) <a href=\"https:\/\/t.co\/LZzMADWB3n\">pic.twitter.com\/LZzMADWB3n<\/a><\/p>\n<p>\u2014 PeckShield Inc. (@peckshield) <a href=\"https:\/\/twitter.com\/peckshield\/status\/1904501599848038490?ref_src=twsrc%5Etfw\">March 25, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The hackers targeted lending markets where GM tokens from the decentralized exchange GMX were used as collateral.<\/p>\n<p>Developers <a href=\"https:\/\/x.com\/MIM_Spell\/status\/1904535586532180434\">confirmed<\/a> the incident and noted that the contracts had undergone a security audit by Guardian Audits and were protected by several security measures.<\/p>\n<p>Despite this, the attack was only noticed after the hacker executed &#8220;several transactions.&#8221; The protocol&#8217;s operations have been halted. The team is investigating the incident and assessing the losses.<\/p>\n<p>The hackers have been offered a 20% bounty to return the stolen funds.<\/p>\n<p>According to PeckShield, the funds were <a href=\"https:\/\/x.com\/PeckShieldAlert\/status\/1904510541521097024\" title=\"\">transferred<\/a> from Arbitrum to three addresses on Ethereum. <\/p>\n<p>GMX <a href=\"https:\/\/x.com\/GMX_IO\/status\/1904509326129238479\">reported<\/a> that the attack did not affect the exchange&#8217;s on-chain infrastructure.<\/p>\n<p>Back in 2024, Abracadabra Finance <a href=\"https:\/\/u1f987.com\/en\/news\/abracadabra-project-loses-6-5-million-in-exploit\">lost<\/a> $6.5 million due to a hack.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hackers have stolen 6260 ETH (approximately $13 million) from the pools of the DeFi project Abracadabra Finance, according to analysts at PeckShield. .@GMX_IO @MIM_Spell related contracts have been hacked for ~6,260 ETH (worth ~$13M) pic.twitter.com\/LZzMADWB3n \u2014 PeckShield Inc. (@peckshield) March 25, 2025 The hackers targeted lending markets where GM tokens from the decentralized exchange GMX [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":22415,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[44,1093],"class_list":["post-22416","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cybercrime","tag-defi"],"aioseo_notices":[],"amp_enabled":true,"views":"32","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/22416","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=22416"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/22416\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/22415"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=22416"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=22416"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=22416"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}