DeFi platform Hedgey Finance hit by $44 million exploit
Over $500 million worth of digital assets were lost to hacks and exploits in Q1 2024.
Hedgey Finance, a token infrastructure platform, has suffered two parallel exploits amounting to a total of $44.7 million worth of lost funds.
Hedgey suffered an exploit worth over $42.8 million Arbitrum (ARB) tokens on the Arbitrum network, according to an April 19 X post by on-chain security firm Cyvers. The attacker has already deposited part of the funds to the Bybit cryptocurrency exchange.
Earlier, Hedgey protocol was hacked for a total of $1.9 million worth of crypto on the Ethereum network, according to an X alert by Cyvers.
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Author: Zoltan Vardai
