Wasabi Protocol Hack: $4.55M Loss Rocks DeFi
ETH/USDT
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$2,308.29 / $2,220.36
Change: $87.93 (3.96%)
+0.0008%
Longs pay
Contents
The DeFi sector cannot escape the clutches of hack attacks; Ethereum and Base-based perpetuals trading platform Wasabi Protocol was robbed of $4.55 million on Thursday. Attackers seized the private key of the externally owned account (EOA) named wasabideployer.eth and immediately transferred the protocol's permission system's single ADMIN_ROLE authority to themselves.
Wasabi Protocol Attack Technical Details
According to Blockaid's detection, the grantRole function was called and, using the UUPS standard, the perp vaults and Long Pool's codes were replaced with malicious versions. Funds were quickly drained: wWETH, sUSDC, wBITCOIN, wPEPE vaults on Ethereum; sUSDC, wWETH, sBTC, sVIRTUAL, sAERO, and sBRETT vaults on Base were targeted. Users were advised to immediately revoke their LP token approvals.
- Hack Amount: 4.55 million dollars
- Target Chains: Ethereum and Base
- Weak Point: Single ADMIN_ROLE deployer key
Drift Protocol Similarity and Latest News
The attack mechanics were identical to the $285 million loss of Solana-based DRIFT futures at the beginning of the month. North Korea-linked attackers had exploited the admin key without timelock or multisig protection in 12 minutes. Wasabi had a similar weakness: A single deployer key held all control. Breaking news: $DRIFT delisted from Upbit and Bithumb, trust erosion increasing post-hack.
ETH Price and DeFi Hack Impact
ETH is affected by the DeFi hack wave. Current data: Price $2,259.76 (-2.96% 24h), RSI 49.09 (sideways), Supertrend bearish.
- Supports: S1 $2,253.73 (⭐97/100, -0.26%), S2 $2,188.68 (⭐76/100, -3.14%)
- Resistances: R1 $2,283.36 (⭐73/100, +1.05%), R2 $2,406.40 (⭐67/100, +6.49%)
Visit our ETH detailed analysis page for in-depth review. Three weeks ago Kelp DAO $292M, in April CoW Swap, Grinex, Resolv Labs, and Volo were hit. 2026 cumulative DeFi losses $770M+.
Wasabi Protocol Hack FAQ
How much was lost in the Wasabi Protocol hack? 4.55 million dollars, ETH/Base tokens stolen from vaults.
What should be done to prevent DeFi hacks? Multisig, timelock, and layered permissions are mandatory; single keys should be banned.
How are ETH prices affected by hacks? Short-term pressure from trust erosion, but ETH futures may signal recovery.