Liquid staking protocol Prisma Finance hacked for $11 million

It was announced that decentralized finance protocol Prisma Finance, which provides liquid staking services, was hacked and 3,257.7 Ethereum (ETH) coins were stolen, worth over $11 million.

Prisma Finance Liquid Staking Protocol Hacked

It was completed Advertisement The attack on liquid staking protocol Prisma Finance, initially valued at $9 million, now stands at $11.6 million, the equivalent of approximately 3,257.7 Ethereum (ETH).

The Prisma Finance protocol just suffered a hack that now amounts to around $11.6 million. Initially valued at $9 million, the Prisma Finance vulnerability allowed hackers to steal an additional $2.6 million in just a few hours!

The protocol commented on the X platform (formerly Twitter):

“Due to the recent exploit, Prisma is asking all users to cancel all connections to avoid losing funds. All users who have connected their wallets to the platform are at risk of losing funds in the future.”

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This announcement from the platform indicates that the vulnerability is still open, putting all Prisma Finance users at risk. The source of the attack also turned out to be a vulnerability in the protocol's smart contract.

These stolen sums, amounting to $11.6 million, represent the equivalent of 3257.7 Ethereum. According to artificial intelligence analytics firm Sentinel, the attack allowed attackers to exploit a vulnerability to steal 1,965.39 collateralized Ethereum (wstETH). The company also said that the FixeFloat exchange platform served as a bridge for hackers to transfer these funds.

“The hackers precisely targeted the stolen assets and converted the stolen assets into ETH, indicating a strategic focus on ETH mining.”. As written by Artificial Intelligence Analysis Company.

👈Read more: $26 Million Hack on FixeFloat Exchange Due to “Minor Issues”!

For information, Prisma Finance has more than $130 million in TVL, according to DefiLlama. Yesterday, TVL cost around $237 million. As a result, the vast majority of users withdrew their funds from the protocol, resulting in a TVL decrease of over 40%. Lido remains the largest liquid staking protocol in terms of TVL, with around $35 billion staked.

Liquid mortgage platform hacks are becoming more common, but they're still new. This is why this trend of malicious attacks on this type of protocol is expected to continue unabated.