Prisma Finance exploited for $10 million

Prisma Finance has been exploited for around $10 million worth of cryptocurrencies on March 28.

On-chain security alert provider Cyvers was the first to detect the anomaly, according to a March 28 X post:

“Our system has detected multiple suspicious transactions with @PrismaFi and still ongoing! Total loss so far is around $9M. The attacker has been funded by @FixedFloat! Our system has detected the malicious contract 2 min earlier than hack transactions!”

Shortly after the initial alert, Cyvers detected another $1 million fraudulent transactions, bringing the total amount of exploited funds near $10 million.

Prisma Finance said that its core engineers and contributors will pause the protocol and investigate, according to a March 28 X post.

Prisma is a decentralized liquid staking token protocol with over $222 million in total value locked (TVL) according to DefiLlama.

Related: Funds hacked in 2024 increased by 15.4% vs. the same period in 2023 — Immunefi

This is a developing story, and further information will be added as it becomes available.