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The DeFi protocol Abracadabra was hacked for 1.7 million dollars.
The DeFi protocol Abracadabra was hacked on October 4, 2023, causing a loss of approximately 1.7 million USD. According to BlockBeats News, the stolen funds were transferred through Tornado Cash, a cryptocurrency mixing tool often exploited to obscure transaction traces.
The incident continues to highlight the security challenges in the DeFi sector, as platforms still face the risk of being attacked by sophisticated hacker groups. This not only undermines market confidence but also drives the demand for a clear legal framework and stronger safety measures for the ecosystem.
Vitalik Buterin, co-founder of Ethereum, emphasized that recurring incidents like Abracadabra highlight the urgency of comprehensive smart contract audits and raising community awareness about DeFi risks.