Hedgey Finance, a cryptocurrency platform specializing in on-chain token infrastructure, has suffered a series of exploits resulting in substantial financial losses. The initial attack targeted its Ethereum operations, draining approximately $1.9 million through the abuse of the 'createLockedCampaign' function with flash-loaned money, affecting USDC, NOBL, and MASA tokens. Subsequent attacks extended to its Arbitrum operations, where approximately $42.8 million was siphoned off. The total losses from these security breaches have escalated to $45 million, as reported by Cyvers Alerts. CyversAlerts described the incident as a significant cybersecurity breach involving multiple transactions on the Arbitrum layer 2.
On-chain token infrastructure provider Hedgey Finance suffered two exploits as attackers leveraged a bug in its token claims contract https://t.co/QxNiZJOkjK
🚨BREAKING: @HEDGEYFINANCE EXPLOIT NOW AT $44.5 MILLION ~ @CYVERSALERTS
🚨UPDATE: EXCLUSIVE QUOTE FROM CYVERSALERTS ON HEDGEY FINANCE EXPLOIT - NOW AT $45M 🚨 "Hedgey Finance suffered a significant cybersecurity breach, with an attacker exploiting the 'createLockedCampaign' function using flash-loaned funds. This breach resulted in the loss of… https://t.co/e7oqJSDjq1
🚨UPDATE: LOSSES FROM HEDGEY FINANCE EXPLOIT NOW AT $43 MILLION🚨 - According to a follow-up report from @CyversAlerts, the exploiter of @hedgeyfinance has now made off with a staggering $42.8 million. - The news follows "multiple more transactions" on the @arbitrum $ARB L2. -… https://t.co/Uy7PGPXmfH https://t.co/hF00QSfnmw
🚨 #Hedgey, a protocol specializing in on-chain token infrastructure, suffered an attack led to approximately $42.8 million being siphoned from its #Arbitrum operations and around $1.9 million from its #Ethereum counterpart. https://t.co/5XqipKjb91
According to Cyvers Alerts, the on-chain token infrastructure protocol Hedgey suffered an attack on the Arbitrum and lost about $42.8 million, and suffered the same attack on the Ethereum and lost about $1.9 million. Hedgey's official Twitter account issued a security alert,…
🚨HEDGEY FINANCE EXPLOITED FOR $2 MILLION - WHAT WE KNOW🚨 - According to reports just now from @CyversAlerts, @hedgeyfinance has suffered a major exploit relating to its token claim contract. - Hedgey Finance is a crypto platform designed to facilitate on-chain token vesting… https://t.co/ZyaBd0rICr https://t.co/YCYhknwIUd
🚨BREAKING: @HEDGEYFINANCE EXPLOITED FOR $1.9 MILLION ~ @CYVERSALERTS
#CertiKInsight We have seen an exploit on @hedgeyfinance for ~$1.9m. The attacker abused the 'createLockedCampaign' function with flash-loaned money to gain approval to spend tokens on the victim. The victim contract has been drained of USDC, NOBL, and MASA tokens. https://t.co/CVWLChyGQc
#CertiKInsight 🚨 We have seen a flash loan exploit on an unverified contract resulting in a loss of ~$55k. Stolen funds were bridged to Arbitrum and deposited into Railgun https://t.co/Kr0wTSbTwz