The post DeltaPrime DeFi Suffers $6 Million Hack on Arbitrum Network appeared first on Coinpedia Fintech News
DeltaPrime DeFi, which runs on the Arbitrum platform, has been dealt a major blow in the form of a hack. The attack that took place at 6:14 AM CET led to a loss of $5. 98 million to liquidity pools belonging to the provider DeltaPrime was first flagged by Cyvers alerts.
The breach took place after an attacker was able to obtain the admin’s private key and siphoned off several of the platform’s pools such as DPUSDC, DPARB, DPWETH, and DPBTCb.
Exploiting the Private Key
The main attack was built on the possibility of using a private key connected with the admin account of DeltaPrime. With the help of this key, the attacker was able to execute a transaction that upgraded the proxy contract and took control of all the given platform’s liquidity pools. Initially, the total of the estimated loss was $ 4.5 million and later rose to almost $6 million ($5.98).
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