Decentralized trading platform Arcus hit by vulnerability exploit; approximately $2.23 million withdrawn

According to TechFlow, on Nov. 11, based on Arcus's incident report, decentralized trading platform Arcus was attacked through an accounting vulnerability, with approximately $2.234 million worth of USDG withdrawn on-chain. Arcus Labs has fully covered the shortfall from the company treasury; user balances were unaffected, and trading and withdrawals are operating normally.

The report said that around 11:07 Beijing time on Nov. 10, a newly created account exploited a processing vulnerability in transfers between user subaccounts to inflate balances and request withdrawals. Approximately $3 million in additional withdrawal requests were blocked by cross-chain bridge limits, were not actually paid out, and have been revoked.

Arcus said the team fixed the vulnerability within one hour of detecting the anomaly and is working with on-chain investigators to track the withdrawn funds.

Source: TechFlow