System hacking with info message. Background with a code on a dark background and a virus warning.

Key Takeaways:

Delta Prime DeFi platform hacked, leading to a theft of over $6 million in stablecoins.
Attack exploited a private key vulnerability, compromising Delta Prime’s admin wallet.
Incident follows another major hack, raising security concerns in the DeFi space.

Delta Prime, a decentralized finance (DeFi) platform, was recently hacked, resulting in the theft of over $6 million in stablecoins.

Onchain security firm Cyvers first flagged the breach, initially reporting a loss of $4.5 million, which quickly escalated as attackers swapped stolen USDC for Ethereum.

DeltaPrime Blue exploited, this is the current status:

At 6:14 AM CET DeltaPrime Blue (Arbitrum) was attacked and drained for $5.98M. This was due to a compromised private key, the source of which is currently under investigation.

DeltaPrime Red (Avalanche) is not vulnerable…
— DeltaPrime (@DeltaPrimeDefi) September 16, 2024

The total loss has since reached nearly $6 million, with warnings that more assets may be at risk as a suspicious address continues to drain funds.

This breach is believed to be linked to a private key vulnerability that compromised Delta Prime’s admin wallet.

DELTAPRIME DEFI PROTOCOL LOSES $5.93M SO FAR IN ONGOING EXPLOIT – REPORT

– @DeltaPrimeDefi, a DeFi project on the Arbitrum, is reportedly under attack. The administrator appears to have lost the private key, according to @CyversAlerts.

– The attacker upgraded the proxy after… https://t.co/SWfaPAvzjG pic.twitter.com/tSjKO0c04c
— BSCN (@BSCNews) September 16, 2024

The hack comes shortly after another major crypto theft of over $230 million from WazirX, making it the second-largest cryptocurrency theft of 2024.

The incident raises concerns over the ongoing security of DeFi platforms.

About The Author

Written by

Adam Morris

Co-Founder / Managing Editor

Adam Morris, the co-founder of Crypto Head and a respected crypto expert, offers insightful commentary and analysis on cryptocurrency, NFTs, and the evolving digital landscape.

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