Abracadabra.Money Exploited for $13M in ETH
- DeFi Protocol
- Security
On March 25, 2021, the DeFi protocol Abracadabra.Money suffered a major exploit, losing ~6,260 ETH worth around $13 million. Hackers drained funds through a vulnerability in the protocol's smart contracts, sending shockwaves through CT as another DeFi project bit the dust. The incident highlighted ongoing security risks in yield farming and lending protocols. CT sleuths tracked the stolen funds across wallets, but recovery seemed unlikely. This hack became a cautionary tale for DeFi degens chasing high APYs.
Incident Details
- Type
- PROTOCOL EXPLOIT
- Funds Lost
- $13M
- Status
- Total loss
Funds were moved across multiple wallets, with little hope of recovery as CT tracked the hacker's movements.