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On March 15, Mozaic Finance, a decentralized finance (DeFi) protocol working on the Arbitrum community, fell sufferer to an exploit, as confirmed by the venture’s growth workforce. The attacker utilized a vulnerability to siphon funds, transferring them to the centralized change MEXC. The workforce stays optimistic about fund restoration by means of authorized channels.
CertiK’s report highlighted that the attacker compromised a non-public key to entry the bridgeViaLifi contract, permitting unauthorized transfers of funds. Blockchain information revealed a switch of stablecoins, with over $2 million redirected to numerous accounts. Mozaic Finance builders expressed confidence within the potential restoration of the stolen funds, as they’ve been deposited into the centralized change MEXC.
The Mozaic Finance incident follows current DeFi exploits, together with Unizen’s lack of $2 million as a result of exterior vulnerabilities and Seneca Finance’s $6 million exploit. Regardless of ongoing efforts to reinforce safety measures, the frequency of such incidents emphasizes the persistent dangers throughout the DeFi sector. The Mozaic workforce goals to pursue authorized avenues for fund restoration.
Additionally learn: DeFi Protocol Blueberry Pause Lending Amid Mystery Exploit
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