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DeFi Protocol DeltaPrime Experiences Security Breach Following Private Key Exposure, Resulting in Loss Exceeding $6 Million
DeltaPrime, a decentralized platform for borrowing and investing, has experienced a significant hack resulting in a loss of millions after an admin exposed a private key. Over $6 million has been siphoned from DeltaPrime wallets.
As reported by onchain security firm Cyvers, the breach has impacted the project’s version on Arbitrum.
“Our system has identified numerous suspicious transactions involving DeltaPrime DeFi on the Arbitrum chain! (Still ongoing).”
According to the post on X, hackers continue to extract funds from the pools. The pools affected thus far include DeltaPrime’s USDC, ARB, and BTCb.
ALERT
Our system has identified numerous suspicious transactions involving @DeltaPrimeDefi on the $ARB chain! (Still ongoing)
It appears that the admin has lost the private key. A suspicious address is still extracting funds from the pools! The affected pools so far are #DPUSDC, #DPARB, #DPBTCb !… pic.twitter.com/8sXanAaCwe—
Cyvers Alerts
(@CyversAlerts) September 16, 2024
Our system has identified numerous suspicious transactions involving @DeltaPrimeDefi on the $ARB chain! (Still ongoing)
(@CyversAlerts) September 16, 2024“The total estimated loss is approximately $4.5M at this point! However, the suspicious address continues to drain the pools! The total loss may rise,” the post indicated.
Fuzzland founder Chaofan Shou stated on X that the admin’s private key has seemingly been compromised, allowing hackers to access all pools. “All pools have been drained. A loss of $7M has already occurred. Withdraw immediately,” Shou cautioned.
Source: arbiscan.io
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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
DeltaPrime has been available on both the Arbitrum and Avalanche blockchains. Additionally, users were unable to withdraw funds on Arbitrum due to its borrowing and lending features.
The DeltaPrime team communicated with its users on Discord following the breach, stating that they are looking into the matter. However, the team did not confirm the exploit or disclose any further information regarding the hack.
DeltaPrime Native Token PRIME Down 6.5%
The native token of the DeFi protocol, PRIME, has decreased by 6.5% following the announcement of the hack on social media. The Prime token has dropped to $1 within the last 24 hours.
At the time of reporting, the token is trading at $0.997, according to CoinGecko.
DeltaPrime was initially launched on the Avalanche network in 2023, garnering over $63 million in total value locked. According to the protocol’s website, it unlocked more than $20 million in liquidity. Investors in the DeFi protocol include Avalanche, GSR Capital, Moonhill Capital, and Uplift.
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