DeltaPrime DeFi Hacked, $6M Lost

The administrator of DeltaPrime, a decentralized platform for borrowing and investing, has been found to have disclosed a private key, resulting in a multi-million-dollar hack. DeltaPrime purses have been emptied of over $6 million.

The project’s Arbitrum version has been impacted by the breach, according to onchain security firm Cyvers.

Our system has detected multiple dubious transactions involving DeltaPrime DeFi on the Arbitrum chain. (Still ongoing.)

Hackers are still draining the pools, as indicated in the X post. DeltaPrime’s USDC, ARB, and BTCb are the pools that have been impacted thus far.

“The total estimated loss thus far is approximately $4.5 million.” Nevertheless, the pools are still being drained by a dubious address. The post stated that the total loss could increase.

Chaofan Shou, the proprietor of Fuzzland, recently stated on X that the admin private key has been exposed, allowing hackers to access all pools. “All pools have been drained.” There has already been a $7 million loss. Shou cautioned, “Withdraw as soon as possible.”

DeltaPrime has been implemented on both the Arbitrum and Avalanche blockchains. Additionally, Arbitrum’s borrowing and lending mechanisms prevented users from withdrawing funds.

Following the breach, the DeltaPrime team informed its users on Discord that it was investigating the matter. Nevertheless, the team did not verify the exploit or disclose any additional information regarding the breach.

DeltaPrime Native Token PRIME Down 6.5%

PRIME, the native token of the DeFi protocol, has experienced a 6.5% decline in value after the hack’s announcement on social media platforms. In the past 24 hours, the Prime token has reached a low of $1.

CoinGecko indicates that the token is trading at $0.997 at publication.

In 2023, DeltaPrime was initially introduced on the Avalanche network, resulting in a total value lock of over $63 million. According to the protocol’s website, over $20 million in liquidity was unleashed.

Some of the investors in the DeFi protocol include Avalanche, GSR Capital, Moonhill Capital, and Uplift.