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Abracadabra DeFi Protocol Suffers $1.7 Million Hack

Abracadabra DeFi Protocol Suffers $1.7 Million Hack

Abracadabra Money suffers another major exploit, with $1.77 million stolen and laundered via Tornado Cash. The platform plans to buy back affected tokens using DAO reserves.

ETH

Fact Check
Multiple sources (CoinStats, Cryptopolitan, Edgen.tech) directly and explicitly state that the Abracadabra DeFi protocol was exploited for approximately $1.7 million. While the provided evidence also describes other, separate hacking incidents involving Abracadabra for different amounts (e.g., $6.5 million and $13 million), this does not contradict the fact that a $1.7 million hack also occurred. The corroboration for this specific amount is strong.
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Summary

Abracadabra Money has lost approximately $1.77 million in a hack, with the attacker transferring 51 ETH to Tornado Cash and holding 344 ETH worth around $1.55 million. The project plans to use DAO reserves to buy back affected MIM tokens. This marks the third exploit for the platform, following previous incidents in 2024 and 2025.

Terms & Concepts
  • DeFi: Short for decentralized finance, it refers to blockchain-based financial services that operate without traditional intermediaries.
  • Tornado Cash: A cryptocurrency mixing service on Ethereum that obfuscates transaction trails by breaking the link between source and destination addresses.
  • MIM tokens: MIM (Magic Internet Money) is a stablecoin used in the Abracadabra Money ecosystem.