Mon, September 16, 2024 at 16:01

• 

  Joy

  • Hey Annie!

  • Did you hear about the latest security breach in the DeFi world?

  • DeltaPrime on the Arbitrum network got hacked!😱

  • 
• Annie

  • Oh no, I didn't hear about that.

  • What happened exactly?😨

  
• 

  Joy

  • So, Cyvers, a blockchain security company, reported that DeltaPrime had a security leak.

  • Initially, they estimated the loss to be around $4.5 million, but it turns out the actual loss is $5.93 million!💸

  • 
• Annie

  • That's a huge amount!

  • How did the hackers manage to do that?🤔

  
• ADward

  • Hold on! Behold, an advertisement awaits. Legend has it that clicking on this ad will make the AI server even smarter... 😅

  
• 

  Joy

  • Apparently, the administrator of DeltaPrime lost possession of their personal secret key.

  • This key is super important because it’s the gateway to the smart contracts on the platform.

  • The intruder used this to alter the proxy smart contract and leverage it.😬

• Annie

  • Wow, that's a serious breach.

  • Which liquidity pools were affected?😟

  
• 

  Joy

  • The affected liquidity pools include DPUSDC, DPARB, and DPBTCb.

  • Cyvers also noted that the suspicious address started exchanging USDC tokens to Ethereum (ETH).

• Annie

  • This sounds really bad.

  • Has anything like this happened before?😕

  
• 

  Joy

  • Yeah, actually.

  • In mid-July, the cross-chain DeFi protocol Li.Fi lost nearly $11 million due to an exploit.

  • And earlier in August, $15 million was stolen from the cross-chain gaming bridge Ronin.😔

• Annie

  • That's a lot of money being stolen in such a short time.

  • Were there any updates on these incidents?🤨

  
• 

  Joy

  • For the Ronin bridge hack, the Norwegian judicial agency Kokrim managed to freeze $5.7 million of the stolen Axie Infinity funds.

  • Sky Mavis shared this update on the X platform, which was a significant milestone for the affected communities.🌟

  • 
• Annie

  • At least some of the stolen funds were recovered.

  • But what about DeltaPrime?

  • Is there any hope for them?😔

  
• 

  Joy

  • It's hard to say at this point.

  • The investigation is still ongoing, and the community is eagerly waiting for more updates.

  • But given the scale of the breach, it’s definitely a tough situation.😞

  • 
• Annie

  • I see.

  • Do you think this news will have a big impact on the market?📉

  
• 

  Joy

  • Unfortunately, yes.

  • This kind of news usually shakes investor confidence, especially in the DeFi space.

  • People might become more cautious, which could lead to a temporary dip in the market.😕

• Annie

  • That's concerning.

  • Thanks for explaining everything, Joy.

  • I'll keep an eye on the market.👀

  
• 

  Joy

  • No problem, Annie!

  • Always here to help you stay informed.

  • Let's hope for some better news next time!🤞

  • To sum up, this article is considered a 😱Bearish for investors!!