Arcadia Finance exploited, $2.5M stolen and converted to WETH

Key Points

1. Arcadia Finance's Rebalancer contract was exploited, resulting in a $2.5 million loss in USDC and USDS.

2. The attacker deployed a malicious contract and converted the stolen assets to Wrapped Ethereum (WETH) on the Base network.

3. The stolen tokens included approximately 2.3 million USDC and 227,000 USDS, totaling $2.5 million.

4. The Arcadia Finance team confirmed the exploit and advised users to revoke permissions granted to rebalancers to prevent further risks.

5. The attacker received 199 WETH and 965.8 million AERO tokens during the swap process across 12 impacted addresses.