DeltaPrime allegedly suffers second attack, losing over $4.7m

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As a seasoned researcher with a penchant for all things blockchain, I find myself once again at the intersection of excitement and concern as yet another decentralized finance (DeFi) platform, DeltaPrime, becomes the latest victim of cybercrime. Having closely followed the DeFi space since its inception, it’s becoming increasingly evident that security remains a significant challenge in this rapidly evolving ecosystem.

It appears that the cryptocurrency broker DeltaPrime has been targeted by hackers once again, this time resulting in a theft of approximately $4.7 million. This is the second such incident since September.

According to reports from blockchain experts, it appears that DeltaPrime, a cryptocurrency protocol supported by Avalanche and GSR Markets, may have suffered a loss of approximately $4.75 million in tokens. This is due to several pools on Arbitrum reportedly being depleted.

Hi @DeltaPrimeDefi, you may want to take a look

— PeckShield Inc. (@peckshield) November 11, 2024

On November 11th, it was reported that the platform seems to have been compromised due to a weakness in its peripheral adaptor contract. Experts from blockchain analysis firm CertiK mentioned that the stolen assets are being kept at address 0x56…634c. After the breach occurred, DeltaPrime acknowledged the incident, stating that the hackers targeted pools on Avalanche and Arbitrum, resulting in a loss of approximately $4.75 million in cryptocurrency.

Delta Prime has recently been hacked on Avalanche and Arbitrum, with an estimated loss of approximately $4.75 million. The protocol has been temporarily suspended on both networks to minimize further risk. Updates will be provided as soon as they are available.

— DeltaPrime (@DeltaPrimeDefi) November 11, 2024

On two separate occasions, the project’s protocol has fallen victim to cyber attacks. The first instance occurred in September, leading to an estimated $6 million in losses. During that event, the culprits leveraged lax private key security to seize control of and drain the project’s susceptible contract.

Previously, cyber investigator ZachXBT noted that DeltaPrime had previously hired North Korean IT workers. Yet, this analyst underscored that all suspected individuals have since been terminated, which leaves uncertainty regarding any potential links between the hack and North Korea undetermined.

In January 2023, DeltaPrime was first introduced on the Avalanche network. According to its official site, it amassed a total value of $63 million and released over $20 million in liquidity. The protocol received financial backing from notable investors such as Avalanche, GSR Capital, Moonhill Capital, and Uplift, among others.

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2024-11-11 13:00