DeFi protocol Arcadia Finance hacked on Ethereum and Optimism for $455k

protocol Arcadia Finance by exploiting a code vulnerability.about the hack on Arcadia Finance, pointing out the cause as “the lack of untrusted input validation.” The code supposedly lacked a validation mechanism to cross-check unverified inputs. This loophole allowed the hacker to drain funds worth roughly $455,000 from Ethereum and Optimism vaults collectively.Arcadia Finance has not yet responded to Cointelegraph’s request for comment.

Arcadia Finance confirmed the hack two hours after PeckShield’s intimation and subsequently paused the contracts to prevent further bleeding of funds.We have paused the contracts and are investigating the root-cause with security experts as we speak. More info will follow as it comes available.

PeckShield reveals the cause of Arcadia Finance hack. The code did not validate untrusted inputs. Hacker drained $455K from darcWETH and darcUSDC vaults.

Coin Coin Latest News, Coin Coin Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Grayscale Adds Lido's LDO Token to Defi Fund, Token Becomes Second-Heaviest in Fund’s Basket – Defi Bitcoin NewsGrayscale Investments revealed that it added Lido DAO's native cryptocurrency and governance token, LDO, to the Defi Fund.
Source: BTCTN - 🏆 531. / 51 Read more »