The Concentric Finance yield aggregator project issued a statement that the protocol had been exploited after a social engineering attack on a team member that had access to the project’s deployer wallet.
Tokens priced at around $1.8 million were drained from the project vaults. In a tweet, Concentric urged users to revoke contract approvals to avoid further losses.
The wallet addresses used by the exploiter appeared to connect the attacker to the $2.7 million OKX DEX theft in December 2023.
This content was sourced from Web3IsGoingGreat