Cyvers in the News

Prisma Finance Hacked: $11 Million Gone in DeFi Breach

‍An analyst from Cyvers detailed the attack’s mechanics. They explained to BeInCrypto how the perpetrators funded their operations through FixedFloat before deploying a malicious contract. ^{Cyvers identified this contract two minutes before the initial exploit transaction}, highlighting the attack’s rapid succession and execution.

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‍“It is more than $11 million now. It can go $20 million as there is still funds in the contract. We messaged Prisma Finance to pause their contract since it has pause function,” security researchers at Cyvers told BeInCrypto.

Stablecoin protocol Prisma Finance hacked for over $11m

^{‍Security analysts at Cyvers first uncovered the attack} and crypto.news reached out to the security firm for exclusive details of the incident.

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‍“We have detected multiple attacks on Prisma Finance Trove Manager Contract. The attacker was funded by FixedFloat and 7 minutes later deployed a malicious contract that was detected by Cyvers as 2 min before the first exploit transaction. The exploit is ongoing, and we have already detected six exploit transactions with a total value lost of $9M. “

‍– Deddy Lavid, CEO at Cyvers

Prisma Finance exploited in $10 million breach

‍Decentralized finance (DeFi) protocol Prisma Finance was exploited for around $10 million worth of cryptocurrencies on March 28.

^{On-chain security alert provider Cyvers were the first to detect the anomaly}, according to a March 28 X post