810 ETH ($1,53 million) have been stolen from Rodeo Finance in a new exploit

hacker

According to a new PeckShieldAlert update, Rodeo Finance has been exploited for approximately 810.1 ether.  The update explains that the exploiter bridged the funds from Arbitrum to Ethereum before swapping some of the funds and staking and tumbling others using a mixing service.

PeckShielAlert announcing the attack, said,

#PeckShieldAlert @Rodeo_Finance is exploited for ~810.1 $ETH (~$1.53M) The exploiter has bridged the stolen funds from #Arbitrum to #Ethereum, and swapped 285 $ETH for $unshETH, deposited them to Ankr: ETH2 Staking, and transferred 150 $ETH to Tornado Cash.

Rodeo Finance is a leveraged yield protocol built on the Arbitrum network. In a July 8 release, the platform announced that a big announcement is slated for this week. The team has yet to make a statement about the July 11 hack.

We previously shared a story that Multichain also had an unexplained fund movement just days after funds locked up in its reserve address were moved to an unknown address. We are keeping an eye on this story as it unfolds.

Author: Chris Mharc

Hello, I am Christ Marc, a young crypto enthusiast who has been in the market for a few years, I heard from bitcoin via a few friends and since then I became deeply interesred in this technology, now I am pursuing my studies with the incentive to master tomorrow's technology.