Arcadia Finance suffers $ 2.5M exploitation of the base; The funds that were converted to Weth
Arcadia Finance, a decentralized financial platform (DEFI) operating at the base blockchain, suffered an exploitation resulting in theft of nearly $ 2.5 million in cryptocurrency.
The attack exploited a weakness in Arcadia’s rebalancer contract by abusing the unjust swapdata parameters, enabling a rogue swap that drained properties from user vaults, According to to an alert from blockchain security company cyvers.
In a report shared with Cointelegraph, Cyvers said exploitation opened Tuesday at 04:05:58 UTC. The attacking assigned a malicious contract and resolved an exploitation within a minute. The stolen tokens were then replaced to wrap the Ethereum (weth) on the base network and turned up to Ethereum Mainnet.
Cyvers have confirmed that all the robbery funds live behind fresh mediators in Ethereum, indicating an attempt to obfuscate the route by fragmentation and likely mixing or Decentralized exchange (Dex) The activity may come as soon as possible.
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$ 2.5 million in USDC, USDS stolen
Stolen tokens include about 2.3 million USDC (USDC) and around 227,000 USD, a $ 2.5 million loss. The attack received 199 Weth and 965.8 million Aero tokens during the replacing process, throughout 12 affected addresses.
Cyvers recommend the interpretation of involved addresses at both the base and Ethereum, which knows major exchanges and bridges to stop incoming transactions and shares of suspicious reports of law enforcement activity.
In a Tuesday post on X, the Arcadia Finance team confirmed the exploitation. “The team is aware of unauthorized transactions through a rebalancer. Remove all permissions for asset managers. More information is next,” the team said.
They asked users to withdraw any permissions granted to rebalancers within the Arcadia platform to reduce further risk.
Related: Hacker returns stealing funds from $ 40m GMX exploitation
$ 2.47 billion stolen in the first half of 2025
The first half of 2025 is Saw more than $ 2.47 billion In losses Due to hacks, scams and exploitationrepresenting the nearly 3% increase to $ 2.4 billion stolen in 2024.
More than $ 800 million have been lost throughout the 144 Q2 incidents, a 52% drop of lost compared to the previous quarter, with 59 fewer incidents in hacking, Certik said in a report earlier this month.
Cointelegraph reached Arcadia and updated this piece we should hear.
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