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Hedgey Finance Suffers Dual Exploits, Losing $44.7 Million in Funds
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Hedgey Finance suffered a devastating blow on April 19 when two simultaneous exploits drained $44.7 million from the token infrastructure platform.
During the two-hour attack, the hacker utilized the ‘createLockedCampaign’ function with flash-loaned funds across multiple blockchains.
Cyvers reported that Hedgey Finance suffered two exploits, one on the Ethereum (ETH) blockchain and another on the Arbitrum (ARB) network. The ETH attack resulted in a loss of $1.9 million, while the Arbitrum exploit led to a theft of $42.8 million in ARB tokens.
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