Cyberattack on Delta Prime: Losses Soar to $6M

by do son ·

Delta Prime cyberattack

The Delta Prime platform fell victim to a cyberattack resulting in the theft of cryptocurrency worth approximately $6 million. Initially, losses were reported at around $4.5 million, but the damage later increased significantly.

Cyvers, a company specializing in blockchain security, was the first to report the incident on September 16, noting that the suspicious wallet had already begun exchanging the stolen funds, converting USDC to ETH. In their statement, Cyvers representatives emphasized that by the time the attack was detected, the hackers’ wallet continued to drain funds from the platform’s pools, potentially leading to further losses. Later, a representative from Fuzzland also confirmed that the total damage had risen to nearly $6 million, pointing to additional malicious transactions.

According to experts, the breach was made possible by the compromise of the platform’s wallet administrator keys. Cyvers noted that the hackers managed to gain control of the wallet responsible for Delta Prime’s managed proxy contracts. Subsequently, the attackers were able to update the contracts, redirecting them to malicious ones, allowing them to siphon funds from the platform within the Arbitrum network. The total losses are estimated at $5.9 million.

Cybersecurity experts warn that the hackers’ future targets may be even larger in scale. In particular, Cyvers suggested that the attackers may soon shift their focus to U.S.-based funds trading in Exchange-Traded Funds (ETFs) of cryptocurrency. The large reserves of Bitcoin held in ETF funds are particularly appealing to hackers, including the North Korean Lazarus Group. According to data from the Dune analytics platform, the total assets of Bitcoin-backed ETFs amount to $53.4 billion.

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Tags: Delta PrimeLazarus Group