Wasabi Protocol Hack: 5M$ Cross-Chain Attack

Wasabi Protocol Suffers Cross-Chain Attack

DeFi derivatives platform Wasabi Protocol suffered a cross-chain attack, with hackers stealing assets worth more than 5 million dollars. PeckShield confirmed that the incident spread across Ethereum, Base, Berachain, and BLAST detailed analysis networks. According to Blockaid and CertiK, the attacker infiltrated Wasabi’s deployer wallet with a compromised admin key, upgraded core systems, and drained the funds. As a result, liquidity pools from LongPool, ShortPool, and Vault contracts were targeted. The attacker’s Tornado Cash-linked accounts gained access to admin roles.

Stolen Assets and Hacker’s Traces

Security firms PeckShield, Blockaid, CertiK, BlockSec, and Cyvers reported the attack’s traces in detail. Cyvers noted that the hacker withdrew assets like WETH, PEPE, MOG, USDC, ZYN, REKT, cbBTC, AERO, and VIRTUAL, converted them to ETH, bridged to Ethereum, and distributed them to various addresses. Blockaid emphasized that all Wasabi/Spicy LP-share tokens are at risk; underlying assets have been drained or still pose a danger.

• WETH and USDC: Main liquidity sources
• PEPE, MOG: Meme coin pools
• Others: ZYN, REKT, cbBTC

Affected Protocols and User Warnings

Virtuals Protocol announced that its own security remains intact while freezing Wasabi-backed margin deposits as a precaution. The Wasabi team announced on X that they have initiated an investigation and advised users to avoid interacting with contracts. Users on the Blast network should check their BLAST futures positions.

DeFi Hack Wave and Blast Technical Analysis

This event crowns one of the darkest months in the DeFi sector; more than 25 protocols lost over 600 million dollars, with Kelp DAO’s 292 million dollar heist at the top of the list. On Blast, downtrend dominates (RSI: 47.10), strong support S1: $0.0005 (82/100 score, Fibo 0.114, BB Lower). Resistance R1: $0.0005 (80/100). The rise of AI-supported attacks makes it mandatory for protocols to review their admin key protection mechanisms.

Market Resilience: Coinbase MEGA Listing

Despite the hack wave, Coinbase International listed MegaETH (MEGA) futures. This shows interest in derivatives markets; a lesson for platforms like Wasabi.