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The decentralized finance (DeFi) protocol SenecaUSD was exploited due to a critical approval exploit involving an open external call vulnerability, leading to the loss of over 1,900 $ETH, valued at approximately $6.5M. The exploit allowed attackers to transfer funds from users who had approved transactions with the protocol, resulting in a $3m+ loss across eth/arb and a dramatic 65% drop in the value of its native $SEN token. Security teams from SlowMist, PeckShield, and others quickly issued alerts, advising users to revoke their approvals for specific addresses to prevent further losses. The Seneca Protocol team confirmed that 80% of the stolen funds were returned following a whitehat request, resulting in the recovery of approximately $5.3 million in ETH. The incident has raised concerns over the security of Ethereum's token approval mechanism and the safety of assets held in users' wallets within DeFi platforms.
Seneca protocol suffered a breach with $6.4M in ETH lost, the hacker was able to obtain assets from addresses that had granted approvals to the vulnerable contracts. Swift action led to the hacker returning $5 million after a "whitehat" bounty incentive. https://t.co/YhY4gLkKBW
🚨 Seneca Protocol, a DeFi lending platform & stablecoin issuer, reports a $6.4M exploit. Users advised to revoke contract approvals.
📣 Latest News: Decentralized lending platform Seneca exploited for $6.4M #news #cryptonews #crypto
We're happy to see 80% of funds have been returned. Transaction link: https://t.co/VzqCvt24pF The exploit involved assets held in users' wallets. The exploit didn't involve funds directly deposited into Seneca (Seneca's TVL). The recovery of funds through a whitehat request…
Seneca Protocol hacker returns 1,537 Ethereum (ETH) worth $5.3 million shortly after stealing over $6 million in security validation exploit https://t.co/WnfV4FVEk7
In the latest crypto hack, on Feb 28, the defi protocol @SenecaUSD has been exploited for ~1,900 $ETH worth ~💰$6.5M. The Attacker was funded by @FixedFloat. Exploited Address: https://t.co/cZ56qO5vdx Hack Txns: https://t.co/A6C4VRiWhH https://t.co/lQHEmuIb1M… https://t.co/Q4WcrHvA0i
In the latest crypto hack, on Feb 28, the defi protocol @SenecaUSD has been exploited for ~1,900 $ETH worth ~💰$6.5M. The Attacker was funded by @FixedFloat. Exploited Contract: https://t.co/cZ56qO5vdx Hack Txns: https://t.co/A6C4VRiWhH https://t.co/lQHEmuIb1M… https://t.co/NvPlI4S2gP
In the latest crypto hack, on Feb 28, the defi protocol @SenecaUSD has been exploited for ~1,900 $ETH worth ~💰$6.5M. The Attacker was funded by @FixedFloat. Hack Txns: https://t.co/A6C4VRiWhH https://t.co/lQHEmuIb1M https://t.co/QzRVCktoW4 https://t.co/bA2oeBfVTo… https://t.co/E3VEiJaeRK
📣 Latest News: Seneca stablecoin hacker returns stolen funds after $6.4M exploit #news #cryptonews #crypto #stablecoins
#PeckShieldAlert @SenecaUSD hacker-labeled address has returned 1,537 $ETH (worth ~$5.3m) to #Seneca: Deployer address & transferred 300 $ETH (~$1.04m) to 2 new addresses https://t.co/hNOFMr1aTk
Stablecoin protocol Seneca hit by $6 million exploit due to smart contract flaw https://t.co/jNRNFTwdJd
🚨@SenecaUSD exploited for 1,900 $ETH (worth ~$6.5M). The attacker used constructed calldata parameters to call transferfrom and transfer tokens that were approved to the project's contracts to the attacker's address. The stolen funds are now held across 3 addresses. Revoke… https://t.co/sKg56m9lVl https://t.co/M1BwoU5jn4
⚠️ Seneca exploited ⚠️ @SenecaUSD was exploited earlier today, with approved user funds at risk. Millions were stolen from users of the protocol. If you've used Seneca in the past, we recommend checking if you're at risk using our Exploit Checker 👇 https://t.co/Pmp4Ljosfe
Seneca protocol saw a significant security breach, resulting in a dramatic 65% drop in the value of its native $SEN token. https://t.co/fqq9tgISX3
Seneca Protocol hack highlights dangers of Ethereum’s token approval mechanism https://t.co/TPXw1kUFjw
Hi @SenecaUSD We have confirmed the critical approval bug in Seneca protocol that allows to steal funds from approving users. Please revoke your approvals from the following addresses: - eth: 0xbc83f2711d0749d7454e4a9d53d8594df0377c05 -arb:… https://t.co/cuOf9gobga https://t.co/bIG72A65Wl
🚨SlowMist Security Alert 🚨 Looks like @SenecaUSD is being exploited due to an open external call vulnerability, please revoke approvals for the following addresses ASAP!!! ETH: 0xBC83F2711D0749D7454e4A9D53d8594DF0377c05 ARB: 0x2d99E1116E73110B88C468189aa6AF8Bb4675ec9 https://t.co/GbmxLXTtdH
Looks like Seneca Protocol has a critical approval exploit (open external call). $3m+ lost so far across eth/arb https://t.co/MkbNShtPUm
#PeckShieldAlert #Alameda -labeled address transferred 2K $ETH (worth ~$6.2M) to #Coinbase within the last 5 hours https://t.co/z7ROrWF0wd
🚨KyberSwap hacker bridges $2.5M in stolen funds to Ethereum!!! The hacker behind the attack on the decentralized exchange (DEX) KyberSwap has been seen moving millions in digital assets from one blockchain to another. Source: https://t.co/7vJhqcDK7s
#PeckShieldAlert Coindesk has reported that @Riskonblast has rugged 420 $ETH (~$1.3m). Most of the stolen funds have already been transferred to #ChangeNow, #Bybit, #MEXC, and #SideShift. A small part of the stolen funds has been bridged to #Arbitrum & #Cosmos.… https://t.co/ydMC1CchiG
#PeckShieldAlert #KyberSwap Exploiter-labeled address bridged ~800 $ETH (worth ~$2.5m) from #Arbitrum to #Ethereum https://t.co/xTWO7lOLJY