Hedgey Finance hacked for almost $45 million

Hedgey Finance, a platform used to manage token claims, lockups, and vesting, was hit with a flash loan attack that drained $44.7 million of customer funds from the platform.

The majority of assets were stolen from Hedgey on the Arbitrum layer-2 network, although around $2.1 million of them were stolen from the version deployed on the Ethereum mainnet.

Hedgey Finance confirmed the exploit, and sent an optimistic and congratulatory message on-chain: "Well done for finding it! We're assuming you executed this exploit as a white hat, so we'd like to get in touch with you to discuss next steps." No on-chain response thus far.

$2 million emptied from Grand Base real world asset platform

Grand Base, a real world assets platform built on the Base layer-2 blockchain, has seen $2 million exit the platform in a hack or rug pull.

The team behind the project claimed that the deployer wallet had been compromised, allowing an attacker to drain the project's liquidity pool. Altogether, 615 ETH (~$2 million) was taken from the project.

Grand Base is a platform where users can trade "gAssets", which are crypto tokens that represent stocks in tech companies including Amazon, Apple, Google, Meta, and Microsoft.

FixedFloat exchange hacked again

The FixedFloat cryptocurrency exchange was exploited again, this time for around $2.8 million. This follows shortly after a February 18 hack in which attackers made off with $26 million.

FixedFloat acknowledged the theft in a Twitter post, and blamed the same thieves. They claimed that this theft was enabled by a vulnerability in a third-party service.

Solana faces wave of drain attacks linked to trading bots including Solareum

The Solana ecosystem is grappling with a spate of drained wallets. A cause has yet to be definitively determined, but some of the thefts were linked to the use of trading bots like Solareum. Solareum speculated that the exploits may have been linked to compromised Telegram bot tokens, which could have allowed the attackers to obtain private keys from message history.

Solareum later wrote that they would be closing the project, and deleted their website. This drew some criticism from users who accused them of doing nothing to investigate the hack, or even being responsible themselves. The project wrote on Twitter, "We at #SOLAREUM team can clarify that we DO NOT steal money." Ah, well, in that case.

Other bots may have been involved in the theft, though it's not clear at this point. Though there was some speculation that a trading bot called BonkBot was to blame, that seems to have been unfounded.

The total theft amount is not clear, but exceeds $500,000.

Prisma Finance hacked for $12 million; attacker makes detailed demands

The defi protocol Prisma Finance was hacked for 3,257 ETH ($11.5 million). An attacker was able to take advantage of a flaw in the project's smart contracts, allowing them to manipulate users' positions and steal some of their collateral. Two other watchful attackers observed the attack strategy and replicated it, stealing a combined additional 173 ETH (~$610,000).

Plasma paused the protocol after detecting the attack.

The first attacker, who stole the bulk of the assets, sent an on-chain message to Prisma claiming that they had performed a "whitehat rescue", and inquired about returning the funds. In later messages, however, they asked the project to answer questions about their security practices and projects' responsibilities to users to prevent attacks. The attacker then transferred the stolen funds to Tornado Cash — indicating their return is unlikely.

In another message, the attacker was angry that Prisma had not expressed gratitude to them or remorse to their users, and was angry they had used terms like "exploit" and "attack" in their description of the incident. They demanded that the team reveal their identities, apologize, and thank the attacker in an online press conference.

LENX co-founder accused of $10 million rug pull

The LENX cross-chain bitcoin liquidity protocol has recently been accused of a $10 million rug pull after community members observed massive withdrawals of treasury funds which were then sent to Binance accounts.

One of the co-founders, known only as "Paul", claimed on Discord that he was "trying to investigate" the movement of funds, which have been blamed on the project's other co-founder, John Kim.

Conversations on Discord suggest that a remaining $3 million in treasury funds were protected, and that the remaining LENX team may have been able to convince Binance to freeze the account that received stolen funds. However, little has been verifiably confirmed to date.

LENX is backed by the Frax Finance lending protocol.

"Munchables" crypto game exploited for $62.5 million

A small round furry shape with big blue eyes and thin legs, somewhat resembling a soot spriteA Munchable (attribution)
The "Munchables" crypto game explains: "Schnibbles grow on every realm across the Munchable's world. Each realm has their own unique and distinctive schniblet, and the Munchables react differently based on their compatibility to the schniblets fed to them. When creating an account for the Munchables, you must choose the location of your snuggery." Right then.

Things went awry in the land of the schnibbles and snuggeries when an attacker siphoned around 17,400 ETH ($62.5 million). Various descriptions of the attack circulated, with blockchain sleuth zachxbt attributing it to a recently hired developer, and crypto developer 0xQuit claiming the theft appeared to have been "planned since deploy".

Some began discussing the possibility that the Blast layer-2 blockchain might forcibly roll back the chain to "undo" the hack. Some have argued this is contra to the crypto ethos or would set a bad precedent, while others have argued that as a blockchain focused more on gaming and experimentation and less on decentralization and other facets of crypto ideology, it would be a reasonable step.

Some hours after the attack, the exploiter was convinced to return the funds.

Curio RWA project suffers $16 million exploit

Curio, a crypto project that creates tokens based on "real-world assets" (RWAs) like cars, watches, wine, and other goods, has suffered an attack that saw around $16 million drained from the project's funds.

A bug in the project's Ethereum smart contract enabled an attacker to mint 1 billion of the project's CGT governance token. Although the tokens were notionally priced at around $40 million, the loss to the project was estimated at closer to $16 million.

Curio DAO announced that they intended to compensate users affected by the theft over a year-long period.

Previously rug-pulled Lucky Star Currency project somehow rugs again

The astrology-based Lucky Star Currency project rug-pulled for $1.1 million in October 2023. You'd think that might be the end of it, but on March 22, 2024, ownership of the project was transferred to a malicious smart contract that then drained tokens priced at almost $300,000 from those who still held them.

You almost have to admire the tenacity.

Super Sushi Samurai exploited by whitehat for $4.6 million

Super Sushi Samurai, a new blockchain game on the Blast layer-2 blockchain was exploited for $4.6 million when an attacker discovered a vulnerability in its smart contract. A bug in the mint functionality caused users who transferred their $SSS balance to themselves to receive twice as many tokens. An attacker took advantage of this to drain $4.6 million from the project, causing the $SSS token to plummet by 99%.

The attacker contacted the project shortly after the theft, claiming to be a whitehat. They wrote, "Hi team, this is a whitehat rescue hack. Let's work on reimbursing the users." Super Sushi Samurai later confirmed that the funds had been returned, minus a 5% "bounty". The team also gave the whitehat an additional 2.5% in SSS tokens and land, and brought them on to the project team as a tech adviser.

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