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HomeFinanceArcadia Finance DeFi protocol hacked on Ethereum and Optimism for $455,000

Arcadia Finance DeFi protocol hacked on Ethereum and Optimism for $455,000

By Forex Crypto Zone

10 July 2023

A hacker drained about $455,000 from non-guardians decentralized finance (DeFi) Arcadia Finance protocol by exploiting a code vulnerability.

PeckShield Blockchain Investigator alert concerning the Arcadia Finance hack, highlighting the trigger as “lack of validation of untrusted inputs”. The code supposedly lacked a validation mechanism to cross-check unverified enter. This loophole allowed the hacker to empty funds price round $455,000 from the vaults (darcWETH) and Optimism (darcUSDC).

Arcadia Finance code didn’t require any untrusted enter validation. Supply: PeckShield

Proceed studying on Coin Telegraph

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