Largest Exit Scam on Arbitrum: Hope Finance Drained for $2M

This marks the largest exit scam on Arbitrum in 2023.

that the hacker transferred around 1,095 ETH, worth more than $1.86 million, through coin mixing protocols.by Cognitos. Despite flagging minor vulnerabilities, the platform concluded that Hope Finance’s smart contract code had “passed the audit successfully” and “there were no warnings raised.”by the scammer at address “0xf188.” The SwapHelper was then updated to use this fake router in the address “0xc9ee” and was approved by all three owners of the DeFi protocol’s multisig “0x8ebd.

Hope Finance is yet to release a post-mortem report of the scam. The platform, however, shared steps for users to withdraw staked liquidity from the protocol.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Crypto_Potato /  🏆 568. in US

Australia Latest News, Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Arbitrum’s User Base Is Fastest Growing Among Leading Blockchains: Bernstein.BernsteinBuzz says the arbitrum blockchain is seeing aggressive growth in users, active users, transactions and revenue, led by wider adoption and the scale up of DeFi and gaming applications on the chain. BernsteinGautam. By willcanny99.
Read more »

Arbitrum-Based Factor Raises $4M on First Day of Token OfferingThe much-hyped launch of FactorDAO on Arbitrum’s CamelotDEX launchpad has attracted over $4.3 million for its FCTR token from traders in less than 12 hours. By shauryamalwa.
Read more »

Hope Finance exploit results in $2M stolen from users’ fundsA smart contract exploit sees $2 million stolen from Arbitrum-based algorithmic stablecoin project Hope Finance.
Read more »

The When, Where and How to Watch the Academy Awards 2023Hollywood is gearing up for the 95th Academy Awards, where “Everything Everywhere All at Once” comes in the lead nominee and the film industry will hope to move past “the slap” of last year’s ceremony. Here's how to watch and what to know.
Read more »

‘All Quiet on the Western Front,’ ‘The Banshees of Inisherin’ top 2023 BAFTA award winners: full listThe 2023 BAFTAs took place on Sunday evening, with many nominees and only a few winners.
Read more »

Factbox: Key winners at the 2023 BAFTA Film AwardsThe annual BAFTA Film Awards, Britain's highest honours for film, were held in London on Sunday.
Read more »