Just days after being accused of money laundering by prominent blockchain investigator ZachXBT, the Garden Finance platform continues to be the focus of the crypto community when it was attacked, causing at least $10.8 million in damage. The incident not only caused confusion among investors but also raised many questions about transparency and security in the DeFi ecosystem.
According to on-chain analysis from ZachXBT, the attack took place on multiple blockchains, including Arbitrum, one of the most popular Ethereum scaling networks today. The Garden Finance development team quickly confirmed the incident and sent a direct message to the hacker via an on-chain transaction, offering a reward of 10% of the stolen funds if the attacker returned all of the assets.
It is worth noting that Garden Finance asserted that all the assets taken belonged to the company, not to users, in order to reassure the community and avoid creating a wave of mass Capital . However, this was not enough to calm the wave of criticism when ZachXBT himself had previously publicly accused the platform of Vai as an intermediary in money laundering activities of many cybercriminal organizations, including North Korean hacker groups.
Garden Finance introduces itself as a “bridge” platform that allows users to directly transfer Bitcoin (BTC) between different blockchains in a Non-Custodial manner, meaning users retain control of their assets during the transfer.
