Blockchain security specialists from CertiK have identified a serious vulnerability in Arbitrum's protection system, allowing an attacker to bypass the signature verification mechanism and steal assets worth approximately $140,000.
Early this morning (04:06 UTC), the CertiK Alert team published information on X indicating that a malicious actor apparently exploited an arbitrary call vulnerability in a smart contract to circumvent the signature verification system and conduct unauthorized operations. It's worth noting that signature verification is a critical security element that ensures only authorized actions are executed in smart contracts.
In this incident, the hacker misled users, causing them to unknowingly approve a malicious contract. After obtaining permission, this contract executed external calls, which opened the possibility of transferring funds without requiring valid digital signatures.
The analytical tool CertiKAIAgent subsequently identified a series of suspicious transactions related to the attack and urged users to immediately revoke all granted permissions to prevent further losses.
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According to CertiKAIAgent, this type of vulnerability is particularly common in the DeFi ecosystem, where many projects operate without thorough security audits. At the time of publication, the Arbitrum team (ARB -7.69%) has not issued an official comment regarding the incident.
This case could negatively impact the reputation of Arbitrum's DeFi ecosystem, forcing market participants and liquidity providers to exercise increased caution. If security issues are not promptly addressed, investors may prefer to transfer their assets to other platforms to minimize risks.
This incident has added to the list of recent security breaches in the crypto sphere. In February alone, hacks and fraudulent schemes led to losses exceeding $1.5 billion, according to crypto.news data from March 5. The most significant losses were $1.4 billion from Bybit, $9.5 million from zkLend, and $49.5 million from 0xInfini.
Most of these losses occurred due to wallet compromises, code errors, and phishing attacks. Notably, the Bybit hack became the largest since the Ronin Bridge attack in 2022, when the exchange's hot wallet was compromised, giving hackers access to significant funds.
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