Premia Labs loses $464K in Arbitrum exploit as hacker swaps funds for BTC

Premia Labs has suffered an estimated $464,600 cryptocurrency exploit on Arbitrum, with the attacker reportedly moving stolen funds across blockchains before converting them into Bitcoin. PeckShield reported that Premia Labs lost approximately $464,600 in an exploit targeting its options vaults on Arbitrum. Blockaid traced the attack to empty options pools, flash loans and transactions that allowed the attacker to withdraw vault collateral. The stolen assets reportedly moved from Arbitrum to Ethereum before being converted into Bitcoin through Chainflip and NEAR Intents. Independent on-chain analysis identified six affected vaults containing WBTC, WETH, USDC.e and ARB.

Also reported by TheCoinrise.

Source: crypto.news