Ethereum

Arbitrum

<h3 id="the-attacker-exploited-the-absence-of-safeguards-in-liquidity-conversions-allowing-them-to-steal-the-funds">The attacker exploited the absence of safeguards in liquidity conversions, allowing them to steal the funds.</h3><p>Adding to the growing list of protocol hacks in the cryptocurrency industry, Jimbos Protocol has become the latest victim of attackers, resulting in a significant loss of funds.</p><p>Blockchain security firm PeckShield reported that Jimbos Protocol, a liquidity protocol operating on the Arbitrum system, was hacked on the morning of May 28. The attack led to the loss of 4,000 <a href="https://cryptosheadlines.com/blur-introduces-eth-loan-repayment-feature/" rel="noopener noreferrer nofollow">ETH</a>, which is valued at around $7.5 million.</p><p>Read Full Article Here: <a href="https://cryptosheadlines.com/jimbos-protocol-on-arbitrum-platform-falls-victim-to-hack-losing-7m-in-ethereum/" rel="noopener noreferrer nofollow">https://cryptosheadlines.com/jimbos-protocol-on-arbitrum-platform-falls-victim-to-hack-losing-7m-in-ethereum/</a></p>

Jimbos Protocol on Arbitrum Platform Falls Victim to Hack, Losing $7M in Ethereum

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