Blockchain Security Firm Certik Reveals Major Decentralized Finance (DeFi) Protocol Is Being Targeted by Hackers

Decentralized finance (DeFi) protocol Arcadia Finance has been hit with a nearly $3.5 million attack on the Ethereum Layer-2 network called Base, according to blockchain security firm Certik. The attack occurred on the Ethereum Layer-2 network. Arcadia Finance Suffers $3.5 Million DeFi Attack on Base Network Certik first drew attention to the attack in his statement today: We detected multiple suspicious transactions on Base. The attacker stole approximately $1.6 million from Arcadia Finance. This is believed to have been done through arbitrary use of swapdata via the Rebalancer contract. A few hours later, Certik announced that the attack was continuing and that the total loss had reached approximately $3.5 million. The Arcadia team also confirmed the attack and warned users in a post on the official X (formerly Twitter) account: “Unauthorized transactions were made through Rebalancer. Remove all asset manager permissions.” On their website, users were advised to “disconnect Rebalancer and Compounder.” Backed by Coinbase Ventures, Arcadia Finance is a DeFi platform that allows users to borrow and lend, leverage, and swap assets without requiring permission. Certik, one of the most well-known companies in the industry for Web3 security, stated in a report published last month that crypto users and DeFi protocols lost a total of $302 million in May 2025, a decrease of approximately 17% compared to April. Certik is backed by major investors such as Sequoia Capital, Tiger Global, and Goldman Sachs, and is expected to reach a valuation of $2 billion by 2024. *This is not investment advice. Continue Reading: Blockchain Security Firm Certik Reveals Major Decentralized Finance (DeFi) Protocol Is Being Targeted by Hackers

Source: BitcoinSistemi