Arcadia Finance

Arcadia Finance Suffers $455,000 Security Breach

July 10, 2023
Attack Types: 
Smart Contract Exploit ,Reentrancy Attack
Entity Types: 
DeFi ,Lending Platform
Target Entities: 
Arcadia Finance

Summary # On July 10, 2023, Arcadia Finance, a DeFi protocol on Ethereum and Optimism, experienced a significant security breach due to vulnerabilities in its smart contract. The incident resulted in a financial loss of approximately $455,000. The breach was due to inadequate security measures in the protocol’s contract, allowing an attacker to manipulate the system for unauthorized asset transfers. Attackers # The identity of the hackers who attacked Arcadia Finance is unknown. ...