Deprecated Thetanuts Vault Hacked for $2.1M

A DeFi protocol called Thetanuts Finance has confirmed that it was hit by an exploit that drained $2.1 million from a legacy vault tied to it.

The compromised contract had been deprecated years ago, according to Thetanuts.

Blockchain security firm PeckShieldAlert reported that $2 million in option tokens appeared to have been recovered through whitehat efforts, while the remaining funds were swapped by the exploiter for approximately 60 ETH and USDC-denominated option tokens worth $34,000.

A vulnerability in the vault’s redemption logic is the root of the exploit, according to security researcher ExVul.