DeFi hackers ring in New Year with 3 attacks in 5 days

The first week of 2024 already has DeFi users on edge after three security incidents in five days.

Over the new year, South Korean cross-chain bridging project Orbit Chain lost $80 million in assets to hackers who’d raided the protocol’s multi-signature wallet.

The team says it’s now working with domestic and international law enforcement to determine the next steps and ways to execute a viable recovery plan.

On Monday — two days after the Orbit attack — cross-chain money market Radiant Capital lost an estimated $4.5 million in a flash loan attack. 

A bad actor had manipulated the liquidity index of a freshly created native USDC market on Arbitrum to rapidly siphon crypto…

Read more on Blockworks

67.2K Reads