The post Private Key Leak at DeltaPrime Results in $6 Million Hack appeared on BitcoinEthereumNews.com.

TLDR: DeltaPrime, a crypto broker, lost over $6 million due to a private key leak The exploit affected only the Arbitrum version of the project A hacker gained control of an admin proxy, redirecting it to a malicious contract This is DeltaPrime’s second hack in two months, following a $1 million loss in July There are allegations of previous links between DeltaPrime and North Korean IT workers On September 16, 2024, DeltaPrime, a decentralized borrowing protocol and crypto broker, experienced a significant security breach resulting in the loss of over $6 million in various tokens. The exploit, which affected only the Arbitrum version of the project, was reportedly caused by a private key leak. Security researchers identified the issue early Monday morning, noting that the hacker had gained control of an admin proxy. This allowed the attacker to upgrade the proxies to point to a malicious contract, effectively draining funds from multiple pools on the platform. The affected pools included DPUSDC, DPARB, and DPBTCb, which hold USDC stablecoins, Arbitrum’s ARB, and bitcoin (BTC) respectively. Delta Prime @DeltaPrimeDefi admin private key leaked. All pools are drained. $7M loss already. Withdraw ASAP!https://t.co/uNn5nZoHp3 pic.twitter.com/se3RebRjpX — Chaofan Shou (@shoucccc) September 16, 2024 Cyvers, a blockchain security firm, confirmed the exploit in a message to CoinDesk, stating that they had detected “multiple suspicious transactions” involving DeltaPrime. The firm suggested that the admin had lost control of the private key, leading to the unauthorized access. As of European morning hours on the day of the attack, users were unable to withdraw funds from the Arbitrum version of DeltaPrime due to the platform’s borrowing and lending mechanisms. The DeltaPrime team acknowledged the issue on their Discord channel and X account, stating that they were investigating and working to resolve the problem. DeltaPrime Blue exploited, this is the…

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Filed under: News - @ September 16, 2024 11:21 am