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Phalcon
01-10

ALERT! Our system detected a suspicious transaction targeting @futureswapx’s contract on #Arbitrum a few hours ago, resulting in an estimated loss of ~$395K. We have attempted to contact the team, but have not received a response so far. The attacker appears to have drained funds through multiple changePosition operations, eventually withdrawing a large amount of USDC. Since the contract is not open-sourced, the exact root cause still requires further investigation. Based on on-chain behavior, we suspect the incident may be related to unexpected stableBalance accounting changes during earlier position updates, which later allowed USDC to be released when removing collateral.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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