2 months ago
Decentralized lending level Abracadabra.Finance suffered an onslaught that drained $13 cardinal worthy of cryptocurrency from pools tied to GMX liquidity tokens.
Blockchain information steadfast PeckShield flagged that contracts involving decentralized speech GMX and Abracadabra were compromised, starring to the theft of 6,260 ETH, worthy astir $12.98 cardinal astatine the clip of writing.
The exploit focused connected alleged "cauldrons," isolated lending markets successful Abracadabra wherever users tin get against crypto collateral. These peculiar cauldrons relied connected GM tokens, which correspond liquidity positions successful GMX, a decentralized speech platform.
GMX distanced itself from the incident. In a station connected X, an relationship associated with the speech said that GMX’s contracts themselves were unaffected. The squad aboriginal said the breach was “solely related to the Abracadabra/Spell cauldrons,” which utilized GM tokens arsenic collateral but did not impact GMX’s halfway infrastructure.
In a connection connected X, Abracadabra confirmed the exploit and said halfway contributors and engineers were investigating the incident to its “fully audited” cauldron. The protocol noted that gmCauldrons had been audited by Guardian Audits — the aforesaid steadfast that audited GMX contracts — and were portion of a broader information infrastructure involving monitoring and effect tools.
The protocol offered the attacker a 20% bug bounty and invited them to negociate via email oregon an on-chain message.
Abracadabra is moving with Guardian and GMX arsenic good arsenic different information partners successful assessing the grade of the harm and however the onslaught was executed. A afloat post-mortem volition travel erstwhile the probe concludes, and nary idiosyncratic collateral was affected, it said.
Last twelvemonth Abracadabra.Finance suffered a $6.49 cardinal exploit that caused its Magic Internet Money (MIM) stablecoin to suffer its peg to the U.S. dollar.
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