DeFi protocol Transit Finance reportedly hit by $1.8 million exploit
Crypto Briefing
DeFi aggregator Transit Finance was reportedly exploited for $1.8 million in DAI stablecoins.Summary
Blockchain security firm PeckShield reported that Transit Finance, a cross-chain swap aggregator, suffered an exploit resulting in the loss of $1.8 million in DAI stablecoins. The firm identified a single Ethereum address holding the stolen funds.
This incident occurs during a volatile month for decentralized finance, following massive exploits at Kelp DAO and Drift Protocol. The report also highlights the significant role of the North Korea-linked Lazarus Group in crypto hacks, noting that cross-chain systems like Transit Finance are frequent targets due to their complex, interconnected nature. This is not the first breach for the protocol, which previously lost $28.9 million in an October 2022 exploit.
(Source：Crypto Briefing)