Wasabi Protocol suffers suspected hack with estimated $2.9M loss

Global Web3 security firm CertiK has reported a suspected hack of Wasabi, a memecoin leverage trading protocol, with estimated losses currently at $2.9 million. Separately, Cyvers Alerts stated it detected suspicious transactions related to the Wasabi Protocol. According to the firm, approximately $4.5 million in various cryptocurrencies, including PEPE, MOG, USDC, and BTC, appear to have been stolen. The stolen funds were all swapped for ETH and then distributed to multiple addresses, Cyvers Alerts explained.