Garden Finance Attacked: 5.5 Million Dollars Stolen

Garden Finance, a multi-chain system, has recently been hit by a major attack resulting in the theft of $5.5 million. This incident has drawn the attention of investors and the cryptocurrency community. As a result of the attack, Garden Finance’s native token, SEED, experienced a 56.5% decline in value, dropping to $0.235 in a single day.

Blockchain detective ZachXBT reported that approximately 25% of the transactions made from the Garden Finance project’s wallets are related to the stolen funds. The project team has offered a 10% “white-hat” reward for the return of the stolen funds. However, the lack of an official statement from the team has caused uncertainty and anxiety within the community.

Analysis tracking the stolen funds reveals that the funds acquired from the Garden Finance attack were moved across different networks and efforts were made to conceal their traces through mixing operations. It is believed that the attacker may have previously organized a manipulation of chain transitions. While the exact source of the attack remains unclear, some users are criticizing the project for its failure to identify security vulnerabilities in advance.

For investors, this incident has the potential to create significant volatility in the markets. The value loss of SEED against Bitcoin is notably 54.8%. This situation may lead investors to reassess market security and the security measures of projects. It is crucial for investors wishing to predict future movements to follow Garden Finance’s official announcements and observations closely.