Delta Prime Suffers $5.98 Million Hack on Arbitrum Network
CryptoNewsTerminal Staff16 Sep, 2024
Delta Prime Suffers $5.98 Million Hack on Arbitrum Network
Delta Prime, a decentralized finance (DeFi) protocol operating on the Avalanche (AVAX) and Arbitrum (ARB) networks, has fallen victim to a hack resulting in the loss of $5.98 million. According to an official tweet from Delta Prime, the incident occurred on September 16th at 1:14 PM (KST) on their Arbitrum-based service. The breach is believed to have been caused by a private key compromise, although investigations are ongoing. It's important to note that Delta Prime's Avalanche-based services, secured with multi-signatures and cold wallets, remain unaffected. The team is actively working to recover the stolen funds and enhance security measures. This hack highlights the ongoing need for vigilance and robust security practices within the DeFi ecosystem. As the industry continues to evolve, it's crucial for protocols and users alike to prioritize asset protection and risk mitigation strategies.
