The centralized finance (defi) platform Abracadabra’s MIM_Spell protocol was attacked by a major cyber. Blockchain Security Company Cyvers announced that 6,262 ETH (about $ 12.9 million) was stolen as a result of the attack. The attacker quickly transferred the ETHs he seized to the Ethereum network and distributed the funds to three new wallets.

Is the team confirmed the deficit

The MIM Platform confirmed the security deficit in a statement on March 25, but did not provide information about the stolen amount. The attack was reported to have targeted Gmcauldron smart contracts audited by Guardian Audits.

As we have quoted as Kriptokoin.com, Binance’s popular breast coin platform Four.ME was attacked by hackers on 18 March.

The platform said that hexagate and Zeroshadow are working integrated with threat monitoring systems to increase security measures. However, despite these measures, the attack took place unnoticed. Abnormal procedures continued until Zeroshadow was detected, and then Abracadabra stopped all borrowing transactions due to the affected smart contracts.

In a statement made by the platform, user guarantees were not damaged, while the scope of the incident is still evaluated.

Award was offered to Hacker

The Defi project MIM’s team stated that they were open to negotiation with the attacker and offered an error award for 20 %of the stolen funds. The platform made the following call to Hacker:

We address Hacker: We are ready to give an error reward for 20 %of the total fund. Contact us via us [email protected] or via our Treasury Address (0xDF2C270F610DC35D8FFFA5B453E74DB5471E126B) in Ethereum.

GMX: “Our contracts were not affected”

Initially, the GMX platform was allegedly affected by the attack, but the decentralized stock market (DEX) GMX announced that its smart contracts are safe.

According to the GMX team, the attack targeted the “Cauldron” mechanism, which only allowed Abracadabra’s borrowing in exchange for GM liquidity tokens. The following statement was made from GMX:

We think that this event depends only on the Abracadabra/Spell Cauldron mechanism. Spell, GMX and security researchers are currently investigating the cause of the attack.

Although GMX has not been directly attacked, the platform’s local tokened GMX lost value after the news. According to Cryptoslate data, the GMX token decreased by 5 %to $ 14.74 to $ 13.74 and traded around $ 14.13 according to the press time.