Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • SLOT
  • CASINO
  • SPORTSBET
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • SLOT
  • CASINO
  • SPORTSBET
  • SUBMIT
Crypto Flexs
Home»TRADING NEWS»Hedgey Protocol lost $44.7 million in a double cyberattack.
TRADING NEWS

Hedgey Protocol lost $44.7 million in a double cyberattack.

By Crypto FlexsApril 19, 20242 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Hedgey Protocol lost .7 million in a double cyberattack.
Share
Facebook Twitter LinkedIn Pinterest Email
  • Hedgey Protocol lost $44.7 million in a double cyberattack.
  • The protocol targeted both Arbitrum and Ethereum chains.
  • Hedgey advises users to revoke authorizations and cancel active charges pending an ongoing investigation.

Decentralized finance (DeFi) platform Hedgey Protocol is in the throes of a cyber siege after suffering a devastating attack that resulted in massive losses of $44.7 million across its Arbitrum and Ethereum blockchains.

Cybers Alerts, a leading cybersecurity watchdog, discovered vulnerabilities exploited in the attack, raising urgent concerns about the security environment within the DeFi ecosystem.

Hedgey protocol hacked on Arbitrum and Ethereum chains

Cybers Alerts said the attack targeted Hedgey Protocol on both the Arbitrum and Ethereum chains, resulting in the theft of $42.8 million and $1.9 million respectively.

According to Cyners Alerts, the attackers quickly converted the stolen funds into DAI, complicating recovery efforts. Additionally, additional transactions on the Arbitrum chain represent potential vulnerabilities within the ecosystem, requiring immediate action.

In response, Hedge Protocol acknowledged the attack and said it had launched a comprehensive investigation into the breach, working closely with security experts and auditors to understand the root cause of the attack.

As the investigation continues, Hedge Protocol has issued an urgent advisory urging users to cancel active claims and revoke all authorizations to mitigate the risk of further exploitation. They recommended reviewing authorizations immediately while an investigation is underway to ensure user security and prevent potential loss of funds. Users were also warned to remain vigilant against scammers looking to take advantage of the situation, emphasizing the importance of cautious online behavior.

Security Alert: We are investigating an attack against our Hedge Token Claim Contract. If you have created an active claim, please cancel it using the “End Token Claim” button at https://t.co/Tt7Aq0n2dh.

We are actively working with auditors and teams to understand the attack…

— Hedge 🦔 (@hedgeyfinance) April 19, 2024

The Hedge Protocol cyberattack highlights the interconnectedness of DeFi platforms and the need for robust security protocols in the evolving decentralized finance landscape.

As stakeholders work together to address vulnerabilities and strengthen security measures, the incident serves as a stark reminder of the ongoing challenges cyber threats pose in the digital asset space.


Share this article

category

tag

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Unity modifies mobile games and password wallets that threaten important vulnerability.

October 6, 2025

SHIBA INU (SHIB) and Dogecoin (DOGE) holders are 16,736%of Rally Progast Tempts buyers that are accumulated as Little PEPE (Lilpepe).

October 5, 2025

Solana Future Surge as the institution induces the open interest for the best record.

October 4, 2025
Add A Comment

Comments are closed.

Recent Posts

Bitcoin Steadies at Rally -Is another powerful brake out just in the future?

October 6, 2025

BitMine Immersion (BMNR) Announces ETH Holdings Exceeding 2.83 Million Tokens And Total Crypto And Cash Holdings Of $13.4 Billion

October 6, 2025

BC.GAME News Backs Deccan Gladiators As Title Sponsor In 2025 Abu Dhabi T10 League

October 6, 2025

Unity modifies mobile games and password wallets that threaten important vulnerability.

October 6, 2025

BitDigital becomes the first public Etherrium for distributing unsecured leverage -details -Details

October 6, 2025

Cango Inc. Announces September 2025 Bitcoin Production And Mining Operations Update

October 6, 2025

Cake Eyes 60% Rally Pancake WAP

October 5, 2025

Bitcoin Pullback — ETFs Drive Capital Flows, Altcoins Like SOL And XRP Boost Investor Returns

October 5, 2025

SHIBA INU (SHIB) and Dogecoin (DOGE) holders are 16,736%of Rally Progast Tempts buyers that are accumulated as Little PEPE (Lilpepe).

October 5, 2025

Solana Future Surge as the institution induces the open interest for the best record.

October 4, 2025

Free bitcoin.in app withdrawal request My satoshi

October 3, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Bitcoin Steadies at Rally -Is another powerful brake out just in the future?

October 6, 2025

BitMine Immersion (BMNR) Announces ETH Holdings Exceeding 2.83 Million Tokens And Total Crypto And Cash Holdings Of $13.4 Billion

October 6, 2025

BC.GAME News Backs Deccan Gladiators As Title Sponsor In 2025 Abu Dhabi T10 League

October 6, 2025
Most Popular

The Devcon VI Manual | Ethereum Foundation Blog

December 14, 2023

LLM Performance Improvements: llama.cpp on NVIDIA RTX Systems

October 6, 2024

Ethereum NFT trading volume reaches a yearly high, with Pudgy Penguins taking note in second place.

February 11, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.