Gamma Strategies exploited for $6.2 million

The Gamma Strategies defi protocol suffered an exploit when an attacker targeted their vaults on several projects across the Arbitrum layer-2 network. The attacker successfully stole almost $6.2 million from these vaults by manipulating the price of some of the assets involved.

Gamma has contacted the hacker to try to negotiate a return of some of the assets, and also says they have engaged law enforcement. Although they have promised to try to repay some of the stolen assets, they are estimating between 25% and 40% recoveries for various categories of users.