Lessons from Abracadabra Money’s Hack on Crypto Payroll Security
The crypto world is wild, right? Case in point: Abracadabra Money just got hit with a $1.8 million hack, and it really makes you think about the security of your crypto payroll. Let’s break this down.
The Hack: What Happened?
Abracadabra Money, a big player in the DeFi lending game, just had its third major breach, and this time it cost them a whopping $1.8 million. Ouch. The fallout was immediate, with its Magic Internet Money (MIM) stablecoin taking a 16.98% hit in trading volume post-exploit. The attackers made off with over 1.79 million MIM and 395 ETH, and some of that has already been cleaned through Tornado Cash. Not a great day for anyone involved.
This hack is a solid reminder that even the big names in crypto aren’t…
