Beluga Protocol Falls Victim to Cyber Attack, Losing $238,300
Beluga, a multichain stableswap protocol, has become the latest victim of cyber attacks in the decentralized finance (defi) space. Security firm PeckShield reported that the protocol was exploited on Arbitrum, resulting in a loss of 113 ETH (approximately $238,300). The source of the exploit has not been identified yet. This incident follows an earlier scam OTC incident that Beluga was investigating. The team behind Beluga has not made any public statements regarding the recent attack on social media.
The hacker used an address previously funded from OKX exchange and it is unclear if false ID was used for KYC verification. Interestingly, the stolen funds were transferred to MEXC instead of being cashed out through OKX. In response to the news, Beluga’s native token BELA experienced a 2% drop in value.
Hot Take: Beluga Falls Victim to Exploit, Suffering Losses
Beluga, a defi project, has fallen victim to a cyber attack on its multichain stableswap protocol. The exploit resulted in a loss of approximately $238,300 worth of ETH. This incident adds to the growing list of defi projects being targeted by hackers. The Beluga team has not provided any updates or statements regarding the attack, leaving users uncertain about the security of their funds. It is concerning that the hacker used an address previously funded from OKX exchange and managed to transfer the stolen funds to another exchange without being caught. This highlights the need for stronger security measures within defi protocols to protect user assets.
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