DeFi app Delta Prime loses $6M after being warned of Lazarus mole
Delta Prime, a decentralized finance (DeFi) application on the Arbitrum and Avalanche blockchains, has been drained of $6 million due to a private key compromise of an administrator address. The alarm was raised by security researcher Chaofan Shou, who also spotted last week’s draining of a recently launched token contract by a lightning-fast MEV bot. The loss was initially estimated to be $7 million before being revised down. 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 Read more: ‘Cryptographic performance art’ drains contract one block after launch According to Shou, the compromised admin address on Arbitrum was used to upgrade DeFi Prime’s proxy contracts to a malicious contract which “can inflate the deposited amount of the hacker on all pools.” The incident comes a month after pseudonymous blockchain i...