Attackers managed to detect a vulnerability in the Hedgey Finance decentralized finance protocol. Hackers have withdrawn at least $1.9 million, but the real losses may be much higher.
Cybersecurity company Cyvers reports that the Hedgey Token Claim smart contract was hacked and hackers managed to withdraw assets worth $1.9 million, and then convert them into DAI stablecoins.
The protocol works on the basis of Ethereum and the Arbitrum solution, and now we are talking about the main network of Ethereum. However, according to some reports, almost $43 million worth of assets could be withdrawn from smart contracts based on Arbitrum.
Hedgey Finance representatives confirmed the security breach and urged users to cancel active requests for tokens in the Hedgey Token Claim smart contract. Now the developers are working with auditors and trying to get the funds back.
Cryptocurrency journalist Colin Wu reported that Hedgey Finance lost over $44 million in total.
Cybersecurity company Cyvers reports that the Hedgey Token Claim smart contract was hacked and hackers managed to withdraw assets worth $1.9 million, and then convert them into DAI stablecoins.
The protocol works on the basis of Ethereum and the Arbitrum solution, and now we are talking about the main network of Ethereum. However, according to some reports, almost $43 million worth of assets could be withdrawn from smart contracts based on Arbitrum.
Hedgey Finance representatives confirmed the security breach and urged users to cancel active requests for tokens in the Hedgey Token Claim smart contract. Now the developers are working with auditors and trying to get the funds back.
Cryptocurrency journalist Colin Wu reported that Hedgey Finance lost over $44 million in total.
