Wasabi DeFi Platform Suffers $5.5M Loss in Latest Exploit

Wasabi Protocol, a DeFi platform for trading and lending, has fallen victim to an exploit that resulted in significant losses. According to on-chain investigators, the attack led to $5.5 million in losses as of reporting time.

The protocol, which runs on multiple blockchain networks, including Ethereum, Base, Berachain, and Blast, was targeted by hackers who exploited a leaked private key to access and drain vaults. This allowed them to transfer funds across different blockchain networks before consolidating them on Ethereum for mixing.

Virtuals Protocol, which often launches new AI agent tokens through Wasabi, announced that it had suffered no losses but preemptively stopped all interactions with vault smart contracts to prevent any potential exposure.