DeFi Platform Arcadia Hit by $3.5 Million Exploit on Base

Decentralized-finance platform Arcadia, which operates on Coinbase-backed Layer-2 network Base, suffered an exploit on 15 July that drained an estimated $3.5 million from its liquidity pools, according to blockchain-security firms CertiK, PeckShield and Cyvers.

Investigators say the attacker manipulated the protocol’s rebalancer contract by supplying arbitrary “swapData,” siphoning off tokens that were then converted into roughly 840 Ether and bridged from Base to the Ethereum mainnet.

Arcadia has not yet released a public post-mortem, and the affected contracts remain paused while security teams trace the funds and prepare a possible recovery plan.

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