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Home » $1.7M DeFi Heist: Concentric Hacked via Social Engineering – Crypto Times

$1.7M DeFi Heist: Concentric Hacked via Social Engineering – Crypto Times

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$1.7M DeFi Heist: Concentric Hacked via Social Engineering – Crypto Times

Today, on Arbitrum a liquidity management app Concentric was hit by a social engineering attack and as a result $1.7 million in cryptocurrency has been stolen.  The intruder used an employee’s deployer wallet to gain possession of a crucial private key, allowing him or her control over vaults and the creation of new LP tokens. Three addresses used for the spreading of stolen funds converted to Ethereum. Exploiter is now targeting approvals on vaults, please revoke all approvals to these addresses:https://t.co/3vTEWu23BJ https://t.co/KlZo5PqjlI— Concentric.fi (@ConcentricFi) January 22, 2024Cybersecurity firm Cyers also raised an alert about suspicious activity and CertiK linked the attack… 

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