Hedgey Protocol under cyber attack, $447M gone in two strikes

TLDR:

• Hedgey Protocol suffers a $44.7 million loss in a cyber attack on Arbitrum and Ethereum platforms.
• Cyvers Alerts exposes vulnerabilities and urges prompt action to enhance DeFi security.

The Hedgey Protocol experienced a devastating cyber attack resulting in a loss of $44.7 million across the Arbitrum and Ethereum platforms. Cyvers Alerts revealed vulnerabilities in the attack, highlighting $42.8 million and $1.9 million stolen in ARB and DAI via suspicious addresses. Concerns were raised about security in the DeFi ecosystem, emphasizing the crucial need for enhanced security measures. Hedgey responded with a security alert, investigation, and user advisory, stressing the importance of robust security protocols in the DeFi landscape.