Abracadabra hit by another hack.
By Maxime Laurent · 2025-10-06 14:06
Abracadabra hit by another hack.
$1.8M in $MIM stolen — DAO treasury covers the loss.
DeFi lending protocol Abracadabra has suffered yet another exploit, with attackers stealing $1.8 million worth of Magic Internet Money ($MIM). Fortunately, the DAO treasury stepped in fast, repurchasing the lost coins from the market — meaning no user funds were affected this time.
Still, this marks the third major security breach for Abracadabra — after incidents in January 2024 and March 2025, bringing total historical losses close to $20 million. The team says it’s now overhauling internal security processes to finally stop this cycle.
It’s a relief that users were protected, but honestly — three hacks later, trust doesn’t come back easily. Abracadabra has magic in the name, but right now, they need less sorcery and more solid code.
#Abracadabra #DeFi #Hack #MIM #Security #BlockchainSafety 🧙♂️💸
$1.8M in $MIM stolen — DAO treasury covers the loss.
DeFi lending protocol Abracadabra has suffered yet another exploit, with attackers stealing $1.8 million worth of Magic Internet Money ($MIM). Fortunately, the DAO treasury stepped in fast, repurchasing the lost coins from the market — meaning no user funds were affected this time.
Still, this marks the third major security breach for Abracadabra — after incidents in January 2024 and March 2025, bringing total historical losses close to $20 million. The team says it’s now overhauling internal security processes to finally stop this cycle.
It’s a relief that users were protected, but honestly — three hacks later, trust doesn’t come back easily. Abracadabra has magic in the name, but right now, they need less sorcery and more solid code.
#Abracadabra #DeFi #Hack #MIM #Security #BlockchainSafety 🧙♂️💸
Disclaimer: This content is for informational purposes only and not financial advice.