Prisma Finance

On Thursday, March 28, 2024, <a href="https://news.todayq.com/prisma-finance-faces-11-6-million-security-breach/" rel="noopener noreferrer nofollow">Prisma Finance</a>, a decentralized liquid staking platform, experienced several exploit transactions resulting in losses of over 3,257 Ethereum, worth around $11.6 million. Additionally, these massive funds were distributed to three different addresses. However, today on March 29, 2024, the security firm CertiK Alert made a post on X (previously Twitter) and highlighted that the funds that theexploiters transferred yesterday are now transferred to a secure place.&nbsp; Will Prisma Finance Exploiter return the stolen Fund? 
They also highlighted that currently, the exploiter had sent 1,850 Ethereum, worth around $6.5 million, to Tornado Cash. However, the exploiter also asked a few questions to Prisma Finance, which indicates that they aren’t happy with the services Prisma Finance is offering. Those questions are: What do you think of the term “Smart Contract”? Have the contracts been audited before they were deployed? What are the responsibilities of the developers in cases like this? Source: CertiK Alert 
However, the exploiter also stated, “I’m not doing this for anything but to raise awareness on the serious contract audits, on developers’ attitude toward their work, and on the project’s responsibilities.” This statement by the exploiter indicates that some Prisma Finance developers and contract audits have caused problems for them. Prisma Finance’s action over the hacker 
Currently, Prisma Finance has temporarily halted its DeFi protocol operations as it conducts a thorough investigation into a recent incident. Before the attack, the protocol boasted a robust total value locked of approximately $220 million. However, in the aftermath, this figure has dwindled to $115 million.&nbsp;
However, this incident badly impacted its PRISMA token as in the last 24 hours its price has dropped by over 20%. Initially, this price fall was over 33%, but once the exploiter shared their thoughts, the price increased.
Following the incident, Prisma Finance made a post on X, highlighting that “the exploit impacting several users’ vaults has instigated the emergency multisig to halt Prisma Protocol operations, ensuring the safety of remaining funds. mkUSD and ULTRA, being stablecoins, are overcollateralized and thus not exposed to risk.”

Prisma Finance $11.6 mln safe, Exploiter challenges Developers?

Todayq News

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