A cybersecurity company, Cyvers, has disclosed that the decentralized finance (DeFi) protocol, Hedgey Finance, fell victim to a hack across the Ethereum (ETH) and Arbitrum (ARB) blockchains, resulting in the theft of millions of dollars. The attackers, allegedly funded by ChangeNOW_io, made off with approximately $1.9 million worth of funds, which were converted to the stablecoin Dai (DAI) and transferred to an external address. Hedgey Finance has advised users to cancel any active claims associated with the Hedgey Token Claim Contract, a feature that grants users greater control over the unlocking of claimed tokens. Meanwhile, on-chain analyst Colin Wu suggests that the actual loss suffered by Hedgey Finance is much larger, totaling over $44 million. The company’s official Twitter account has released a security alert and is working with auditors and its team to investigate and mitigate the attack. It is important for investors to conduct thorough research before engaging in high-risk investments in cryptocurrencies or digital assets, as transfers and trades are done at their own risk. The Daily Hodl, where this article is published, does not provide investment advice or act as an investment advisor.
