Arbitrum

Prime

Delta

<p>DeltaPrime, a decentralized borrowing protocol and crypto broker, has been hit by a significant security breach resulting in over $6 million in losses. The exploit, identified by blockchain security firm Cyvers, affected the Arbitrum version of the platform and is attributed to a private key leak.</p>
<p>Several blockchain security experts and analysts noted this breach and shared that the hacker had gained control of Delta Prime admin proxy. This access enabled the attacker to upgrade the proxy and direct it toward a malicious contract. This resulted in draining of multiple liquidity pools including DPUSDC, DPARB, and DPBTCb.</p>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfnERqazXeTsKESMUlJHgBMmVsrBw1YP-qXbJp2uQG9INC-WLqI1Ogz9u84va2YTttjpvP57PGVId8loNjLgSsQsFkGbEcGcS-XnBdxHoWgLi62D_3nkWSt13PHANUeYYAimPBb43rbUYt5IB10PM06-w1z?key=6EK0y0f73hK3VDhQDc2i1A" alt="AD 4nXfnERqazXeTsKESMUlJHgBMmVsrBw1YP qXbJp2uQG9INC WLqI1Ogz9u84va2YTttjpvP57PGVId8loNjLgSsQsFkGbEcGcS XnBdxHoWgLi62D 3nkWSt13PHANUeYYAimPBb43rbUYt5IB10PM06 w1z?key=6EK0y0f73hK3VDhQDc2i1A">
 </figure>
</div>
<p>Blockchain security firm Cyvers <a href="https://x.com/CyversAlerts/status/1835583776325337202" target="_blank" rel="noopener noreferrer nofollow">confirmed</a> the exploit and shared post on X, stating that they detected “multiple suspicious transactions” related to DeltaPrime. According to the firm, the incident occurred due to the admin losing control of a private key, allowing unauthorized access to platform funds. As a result, users were temporarily unable to withdraw their assets from the Arbitrum version of DeltaPrime, given its borrowing and lending structure.</p>
<p>The DeltaPrime team responded promptly by informing users via Discord and X (formerly Twitter), acknowledging the issue and assuring the community that they were working on a resolution.&nbsp;</p>
<p>“The risk is contained, we’re working on asset-retrieval and the insurance pool will cover any potential losses where possible / necessary,” said the team in the X post, adding “Additionally, we’re looking into other ways to reduce user losses to a minimum.”</p>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXe9sPV24wDKIpoBCTDLQU5I3Jg3iU2avV-PNdoPT7cbN2N3L_nxeYqZj-qoWLJyFingIBEMsGeCPaI_udqkuxVhQGQvzOPvAJEqE6LP1xFKMZongmXiXAkOQv_sS80OPQqW-w7vcRllsVtz35qDUFIxhf8?key=6EK0y0f73hK3VDhQDc2i1A" alt="AD 4nXe9sPV24wDKIpoBCTDLQU5I3Jg3iU2avV PNdoPT7cbN2N3L nxeYqZj qoWLJyFingIBEMsGeCPaI udqkuxVhQGQvzOPvAJEqE6LP1xFKMZongmXiXAkOQv sS80OPQqW">
 </figure>
</div>
<p>This incident marks the second significant breach for DeltaPrime in recent months. In July 2024, the protocol suffered a $1 million hack due to a misconfiguration, which allowed an attacker to take over accounts, repay loans, and withdraw collateral.</p>
<p>Following the previous exploit of July, DeltaPrime team had re-audited its codebase and assured users that vulnerabilities had been patched. However, the recurrence of another major breach raises concerns about the platform’s security measures.</p>
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 <p>Also Read: <a href="https://www.cryptotimes.io/2024/09/09/crypto-trader-loses-16-million-in-friend-token-bet/" target="_blank" rel="noopener noreferrer nofollow">Crypto Trader Loses $16 Million In FRIEND Token Bet</a></p>
</blockquote>

DeFi Protocol Delta Prime Loses $6M in Admin Key Exploit

The Crypto Times

Other articles published on Sep 16, 2024

Standard Chartered Enters UAE Crypto Market with Custody Services for Bitcoin and Ethereum

Ethereum price drops to a 41-month low against Bitcoin

Coinpedia Fintech News

Changpeng Zhao Permanently Barred from Binance Management But Retains Power: Binance CEO

Cardano Community Debates Future as ADA Market Dominance Stalls

Floki's Valhalla Partners with OG Esports as Official Jersey Sleeve Sponsor

Join our free newsletter for daily crypto updates!