Arcadia Finance exploited, $3.5M stolen and converted to WETH
Arcadia Finance’s Rebalancer contract was exploited for $3.5 million in USDC and USDS on the Base blockchain, with stolen assets swapped to WETH.
Update (June 15, 9:12 am UTC): This article has been updated to include yet another attack on Arcadia Finance, which brings the total lost sum to $3.5 million.
Arcadia Finance, a decentralized finance (DeFi) platform operating on the Base blockchain, suffered an exploit resulting in the theft of about $3.5 million in cryptocurrency.
The attacker exploited a vulnerability in Arcadia’s Rebalancer contract by abusing arbitrary swapData parameters, enabling a rogue swap that drained assets from user vaults, according to an alert from blockchain security company Cyvers.
