More than $6 million in Token were withdrawn from DeltaPrime's wallet due to a private key leak. The hack only affected the Arbitrum version of the project.
Lending platform DeltaPrime drained of $6 million due to private key leak. Photo: Coinpedia
DeltaPrime, a decentralized lending platform backed by Avalanche and GSR Markets, was hacked this afternoon (September 16). The incident resulted in the loss of more than $6 million from various wallets, due to the leak of the administrator's private keys.
DeltaPrime Blue exploited, this is the current status:
— DeltaPrime (@DeltaPrimeDefi) September 16, 2024
At 6:14 AM CET DeltaPrime Blue (Arbitrum) was attacked and drained for $5.98M. This was due to a compromised private key, the source of which is currently under investigation.
DeltaPrime Red (Avalanche) is not hazardous…
DeltaPrime currently operates on two blockchains, Arbitrum and Avalanche. However, the incident only crippled the Arbitrum version, resulting in users also being unable to withdraw funds due to the severely damaged lending mechanism.
According to Cyvers Alerts, the hacker took control of the address 0xx40e4ff9e018462ce71fa34abdfa27b8c5e2b1afb, upgraded the proxy associated with the malicious contract 0xD4CA224a176A59ed1a346FA86C3e921e01659E73, and withdrew the funds.
🚨ALERT🚨Our system has detected multiple suspicious transactions involving @DeltaPrimeDefi on $ ARB chain! (Still ongoing)
— 🚨 Cyvers Alerts 🚨 (@CyversAlerts) September 16, 2024
It seems that admin has lost the private key. Suspicious address still draining the pools! Affected pools so far are the #DPUSDC , #DPARB , #DPBTCb !… pic.twitter.com/8sXanAaCwe
DeltaPrime quickly detected and reported the hack on X. The project is investigating the cause of the private key exposure and working to recover assets. The insurance fund will compensate users if necessary and increase security measures to minimize damage.
on-chain investigator ZachXBT said that DeltaPrime had previously hired IT staff from North Korea, but they were fired before the incident, so the link between the attack and North Korea may not exist.
Today’s incident comes nearly two months after the $230 million theft from WazirX , an Indian cryptocurrency exchange, which was also the second-highest-profile hack of 2024.
DeltaPrime was first launched on Avalanche in January 2023. The project has attracted over $63 million in TVL and unlocked $20 million in liquidation. The protocol has received investments from Avalanche, GSR Capital, Moonhill Capital, Uplift, and many other major organizations.
DeltaPrime PRIME price has dropped nearly 6% in the last 24 hours.
DeltaPrime PRIME price movement in the last 24 hours, Coingecko screenshot at 04:30 PM on 09/16/2024
Coin68 synthesis
Join the discussion about the HOTTEST issues of the DeFi market in the Fomo Sapiens chat group with Coin68 admins!!!
