Ongoing Exploit Drains $450K from Garden Finance Across Multiple Blockchains

Garden Finance is currently facing an ongoing security exploit that has drained approximately $450,000 in USDT from its smart contracts across four Ethereum Virtual Machine-compatible blockchains: Ethereum, Base, Arbitrum, and BNB Chain. The exploit was identified by the Web3 security firm Blockaid and is still active as of detection. This incident follows a previous breach that resulted in estimated losses between $10.8 million and $11 million due to a compromised solver. The current attack leverages Hash Time Locked Contracts (HTLCs), which are designed for cross-chain atomic swaps. The attacker exploited weaknesses in the contract logic, indicating a systemic issue rather than a localized bug. Despite undergoing security audits by reputable firms, Garden Finance has proven vulnerable to breaches. Investors are advised to withdraw their funds until the situation is resolved, as the ongoing nature of the exploit poses a significant risk. The cumulative impact of these incidents raises concerns about the overall security posture of the protocol.

Key Points: • Garden Finance lost approximately $450,000 in USDT due to an ongoing exploit across multiple blockchains. • The exploit targets Hash Time Locked Contracts (HTLCs), indicating a vulnerability in contract logic. • This incident follows a previous breach costing between $10.8 million and $11 million, raising security concerns.