and drained of $455,000 worth of crypto. A preliminary report from blockchain security firm Peckshield stated that the attacker had used a “lack of untrusted input validation” in the app’s contracts to drain the funds. The Arcadia team had denied this, stating that Peckshield’s analysis was mistaken. However, the team did not explain what they thought the cause was at the time.
The attacker deposited the $103,210 into the vault, bringing the total funds to $123,882. They then withdrew all funds, leaving the vault with no assets and $103,210 in debt.
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DeFi protocol Arcadia Finance hacked on Ethereum and Optimism for $455kWhile the investigations are underway, Arcadia’s code houses another vulnerability, which could prove catastrophic for the protocol if exploited. PeckShield reveals the cause of Arcadia Finance hack. The code did not validate untrusted inputs. Hacker drained $455K from darcWETH and darcUSDC vaults.
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