​​​Stablecoin DEX Saddle Finance hacked for $10 million Today | NFT NEWS

​​​Stablecoin DEX Saddle Finance hacked for $10 million

Today, Saddle Finance, a decentralized exchange for trading stablecoins, was hacked using a DeFi exploit.

According to the network, an unknown hacker performed an exploit at 07:40 a.m. coordinated universal time and received about 3,540 ethers ($10 million).

Saddle Finance confirmed the incident, saying its team is investigating a "possible exploit."

The company BlockSec, which is engaged in the audit of smart contracts, was the first to notice the exploit and notified Saddle about it. BlockSec managed to save $3.8 million from exploiters with the help of an internal system that can detect and outrun hacking incidents using autonomous arbitration bots called flashbots.

"The project took about 4,900 ethers ($13.8 million). Of these, we saved 1,360 ethers ($ 3.8 million)," BlockSecTeam said on Twitter (the social network is blocked on the territory of the Russian Federation, belongs to Meta — the company is recognized as extremist on the territory of the Russian Federation).

However, the hacker escaped with more than $10 million in ETH from Saddle's liquidity pools. Saddle Finance reported that it is in the process of collecting $3.8 million from BlockSec.