Arcadia Finance Suffers $2.5M Exploit on Base; Funds Converted to WETH

Arcadia Finance, a decentralized finance (DeFi) platform operating on the Base blockchain, suffered an exploit resulting in the theft of about $2.5 million in cryptocurrency.

The attacker exploited a vulnerability in Arcadia’s Rebalancer contract by abusing arbitrary swapData parameters, enabling a rogue swap that drained assets from user vaults, according to an alert from blockchain security company Cyvers.

In a report shared with Cointelegraph, Cyvers said the exploit unfolded on Tuesday at 04:05:58 UTC. The attacker deployed a malicious contract…