The Arbitrum-based liquidity management project Orange Finance suffered at least $840,000 in losses after hackers compromised the project's admin address, then used it to upgrade the project's <button class="define-target" id="smart-contract">smart contracts</button> and transfer funds.<p>"The team is not sure what happened," wrote Orange Finance in a tweet announcing the hack, encouraging people to revoke contract approvals for the compromised addresses.</p><p>Orange Finance attempted to negotiate with the attacker via on-chain message, writing, "If you respond positively to our offer within 24 hours, we guarantee that no law enforcement agencies will be involved, and the matter will be treated as a <button class="define-target" id="whitehat">white-hat</button> hack."</p>

Archived tweet

Tweet by Orange Finance: