Garden Finance Reportedly Loses Over $10.8 Million in Hacking Incident

Garden Finance recently experienced a significant security breach, reportedly losing over $10.8 million across multiple blockchains, including Arbitrum. This incident is particularly ironic as prominent crypto sleuth ZachXBT had recently accused the platform of facilitating money laundering, claiming over 25% of its traffic came from illicit sources, including DPRK-based criminals.

ZachXBT initially reported the loss at $5.8 million before revising it upwards, noting that an address linked to the Garden team offered the alleged exploiter a 10% whitehat bounty on-chain. Garden Finance stated that assets were taken from them, but provided few technical details about the attack.

The article draws a parallel to a similar ironic situation involving THORChain, which was accused of laundering funds for hackers, including North Korea's Lazarus Group, only for its founder to be stolen from months later. The piece concludes that without the ability to freeze assets, community investigators face practical difficulties, leaving Garden Finance reliant on its bounty offer for any potential resolution.

(Source：BeInCrypto)