DeltaPrime allegedly suffers second attack, losing over $4.7m

  crypto.news 24 m

Crypto broker DeltaPrime has seemingly fallen victim to a $4.7 million hacker attack, for the second time since September.

DeltaPrime, a decentralized crypto protocol backed by Avalanche and GSR Markets, has allegedly lost $4.75 million worth of tokens as multiple pools on Arbitrum were drained, blockchain analysts warn.

Hi @DeltaPrimeDefi, you may want to take a look pic.twitter.com/uUn7fnRCLu

— PeckShield Inc. (@peckshield) November 11, 2024

On Monday, Nov. 11, reports emerged that the platform appears to have been exploited due to a vulnerability in the periphery adaptor contract. Analysts from blockchain analytics firm CertiK noted that the stolen funds are being held at 0x56…634c. Following the attack, DeltaPrime confirmed the incident, saying the hackers exploited pools on Avalanche and Arbitrum, stealing a total of $4.75 million worth of crypto.

DeltaPrime was just exploited on Avalanche and Arbitrum for a total of (initial estimate) $4.75mm.

With the protocol being paused on both chains, the risk is contained. We will provide updates asap.

— DeltaPrime (@DeltaPrimeDefi) November 11, 2024

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This is the second time the protocol has been targeted by hackers, with the previous incident in September resulting in a $6 million loss. At the time, the attackers exploited weak private key security to take control of and drain the project’s vulnerable contract.

Blockchain sleuth ZachXBT previously pointed out that DeltaPrime had earlier employed North Korean IT workers. However, the analyst emphasized that all flagged personnel had been removed, leaving questions about any connection between the hack and North Korea unresolved.

First launched on the Avalanche network in January 2023, DeltaPrime attracted over $63 million in total value locked and unlocked more than $20 million in liquidity, the protocol says on its official website. The protocol secured funding from Avalanche, GSR Capital, Moonhill Capital, and Uplift, among others.

Read more: North Korea ‘aggressively targeting’ crypto firms, warns FBI

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