Prisma Finance Hit by Cyberattack; Cryptocurrencies Worth $10 Million Stolen
Summary:
Prisma Finance suffered a cyberattack on March 28, resulting in an approximate loss of $10 million in cryptocurrencies. The on-chain security alert service, Cyvers, was the first to spot the suspicious transactions, with the attacker reportedly funded by FixedFloat. The event is under investigation by Prisma's core engineers and contributors.
On March 28, Prisma Finance experienced a cyberattack resulting in the theft of cryptocurrencies valued roughly at $10 million. The initial signs of the abnormal transactions were observed by Cyvers, an on-chain security alert service, as reported in a March 28 post, stating that suspicious transactions involving Prisma Finance were continuing and the total loss had reached around $9 million. The attacker was reportedly funded by FixedFloat. Notably, Cyvers detected the harmful contract two minutes before the hack transactions started.
Following the first alert, Cyvers spotted an additional $1 million in fraudulent transactions, pushing the total estimated loss close to $10 million. Prisma Finance declared via a March 28 post that its primary engineers and contributors are actively working on halting the protocol to further investigate the incident.
Prisma is a protocol for decentralized liquid staking tokens and currently has a total value locked (TVL) over $222 million, as per data from DefiLlama.
In related news, there was a 15.4% increase in the funds hacked in 2024 compared to the same period the previous year, as per Immunefi.
More updates on this developing story will be shared as they surface.
Published At
3/28/2024 3:26:49 PM
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