DeltaPrime reportedly experiences another breach resulting in a loss of more than 47m
Crypto broker DeltaPrime has reportedly suffered a hacker attack, resulting in a loss of $4.7 million. This is the second time the platform has been targeted since September. DeltaPrime, a decentralized crypto protocol supported by Avalanche and GSR Markets, allegedly lost $4.75 million worth of tokens as multiple pools on Arbitrum were drained. Blockchain analysts have identified a vulnerability in the periphery adaptor contract as the cause of the exploit. The stolen funds are currently held at the address 0x56…634c. DeltaPrime has confirmed the incident and stated that the hackers exploited pools on Avalanche and Arbitrum, stealing a total of $4.75 million worth of crypto.
It is worth noting that this is not the first time DeltaPrime has been targeted by hackers. In September, an attack resulted in a loss of $6 million. The previous attack exploited weak private key security to take control of and drain the project’s vulnerable contract. There have been suggestions that the earlier employment of North Korean IT workers by DeltaPrime may be connected to the hacks. However, all flagged personnel have been removed, and the connection remains unresolved.
DeltaPrime was launched on the Avalanche network in January 2023 and has attracted over $63 million in total value locked and unlocked more than $20 million in liquidity. The protocol has received funding from Avalanche, GSR Capital, Moonhill Capital, Uplift, and others.
In related news, the FBI has issued a warning about North Korea aggressively targeting crypto firms.
