Stablecoin

Prisma Finance

Curio

Security

Stablecoin protocol Prisma Finance experienced a significant cyberattack, resulting in a nearly $11.6 million loss.&nbsp; 
The protocol’s operations have been temporarily halted for an ongoing investigation. This event marks the first significant security breach linked to the emerging risks associated with restaking.&nbsp; 
Security analysts at <a href="https://twitter.com/CyversAlerts/status/1773312535338340598?t=9yEGPqwYUVbxmKT8I8VoCg&amp;s=19" target="_blank" rel="noopener">Cyvers</a> first uncovered the attack and crypto.news reached out to the security firm for exclusive details of the incident.&nbsp; 
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<blockquote class="wp-block-quote"> 
 “We have detected multiple attacks on Prisma Finance Trove Manager Contract. The attacker was funded by FixedFloat and 7 minutes later deployed a malicious contract that was detected by Cyvers as 2 min before the first exploit transaction. The exploit is ongoing, and we have already detected six exploit transactions with a total value lost of $9M.&nbsp;“ <cite>– Deddy Lavid, CEO at Cyvers</cite>
</blockquote> 
The ongoing bull market has seen surging activities from hackers. Last week, the <a href="https://crypto.news/hacker-mints-cgt-curio/">Curio</a> defi project was exploited for $16 million. Just days earlier, <a href="https://crypto.news/airdao-suffers-exploit-hackers-transfer-stolen-funds-to-mexc-kucoin-changenow/">AirDAO</a> was also hacked for nearly $450,000. 
Experts have also warned about the potential increase in activities from North Korea’s <a href="https://crypto.news/lazarus-group-crypto-bull-market/">Lazarus</a> group, as the bull market is attracting threat actors at large.&nbsp; 
 Read more: <a href="https://crypto.news/lazarus-group-crypto-bull-market/"> Is Lazarus Group the biggest threat to crypto in this bull market? </a>

Stablecoin protocol Prisma Finance hacked for over $11m

crypto.news

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