ArbixFinance was Rugged and More than $10 Million was Lost

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Key Takeaways:

  • PeckShield informed people that they have detected that ArbixFinance was rugged and more than $10 million was lost.
  • CertiK Security Leaderboard shared the incident analysis.
  • The funds deposited by users ($10M) were directed to unverified pools via the depositor contract. 
Arbixfinance Was Rugged And More Than $10 Million Was Lost
ArbixFinance was Rugged and More than $10 Million was Lost

Today PeckShield informed people that they have detected that ArbixFinance was rugged. More than $10 million was lost. ArbixFinance was audited by CertiK Security Leaderboard. They have also informed people about this rug pull through their Twitter handle. People are questioning CertiK Security Leaderboard about it. Most people invested in ArbixFinance because they trusted the audit done by CertiK Security Leaderboard.

CertiK Security Leaderboard shared the incident analysis. According to them, $ARBX first contract has mint() with onlyOwner function. Then 10M $ARBX were minted to 8 addresses. First 4.5M ARBX were minted to: 0x161262d172699cf0a5e09b6cdfa5fee7f32c183d. Then the second 4.5M ARBX were dumped.

The funds deposited by users ($10M) were directed to unverified pools via the depositor contract. The hacker then drained all assets from the pools. The depositor address was identified. One of the unverified pools was also identified. The hacker address was also identified by CertiK Security Leaderboard.

CertiK is a blockchain security pioneer, securing and monitoring blockchain protocols and smart contracts with best-in-class AI technology. The mission of CertiK is to secure the cyber world. Starting with blockchain, CertiK brings cutting-edge academic innovations into the enterprise, allowing mission-critical applications to be built with security and correctness. As a result, CertiK has emerged as a true market leader in blockchain security, as one of the fastest-growing and most trusted companies.

Arbixfinance Was Rugged And More Than $10 Million Was Lost
ArbixFinance was Rugged and More than $10 Million was Lost
Chaahat Girdhar
Chaahat Girdhar

I'm Chaahat Girdhar, a journalist by profession who's turning her dreams into vision and vision into reality. I'm curious and have an appetite for gaining new knowledge. So I'm looking forward to learning things in the better way possible.

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