Hackers exploited a vulnerability in Arcadia Finance’s Rebalancer contract on Tuesday, draining approximately $2.5 million in cryptocurrency from the decentralized finance platform operating on Base blockchain.
The attackers manipulated arbitrary swapData parameters to execute unauthorized swaps that emptied user vaults, according to blockchain security firm Hacken.
The stolen funds, consisting primarily of 2.3 million USDC and 227,000 USDS tokens, were swapped to Wrapped Ethereum and bridged to the Ethereum mainnet within hours of the attack.
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