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Cork Protocol Pauses Contracts Amidst Investigation Of Potential Exploit


by Coin Edition
for CoinEdition
Cork Protocol Pauses Contracts From Potential Exploit
  • Some reports suggest that Cork Protocol may have suffered a loss of approximately $12 million in the suspected breach
  • At the moment, the attack is presumed to have been due to a private key leak or phishing incident involving a service provider
  • The DeFi platform is backed by notable investors such as a16z, OrangeDAO, Ideo Ventures, and Outliers Fund

Phil Fogel, co-founder of Cork Protocol, announced via X that the team is investigating a potential exploit and has paused all smart contracts as a precautionary measure.

While it’s still early to calculate the damages, some reports suggest that Cork Protocol may have suffered a loss of approximately $12 million in a suspected breach. 

According to Cyvers Alerts, a malicious contract was deployed on May 28, 2025, at 11:23:19 UTC. The contract was funded by an address beginning with 0x4771 and ending with 762B, which may be associated with a service provider.

Blockchain security firm SlowMist has issued a security alert regarding the incident, drawing attention to the possible vulnerabilities exploited. At the moment, the attack is suspected to have occurred due to a private key leak or phishing incident in…

The post Cork Protocol Pauses Contracts Amidst Investigation Of Potential Exploit appeared first on Coin Edition.

Read the article at CoinEdition

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Cork Protocol Pauses Contracts Amidst Investigation Of Potential Exploit


by Coin Edition
for CoinEdition
Cork Protocol Pauses Contracts From Potential Exploit
  • Some reports suggest that Cork Protocol may have suffered a loss of approximately $12 million in the suspected breach
  • At the moment, the attack is presumed to have been due to a private key leak or phishing incident involving a service provider
  • The DeFi platform is backed by notable investors such as a16z, OrangeDAO, Ideo Ventures, and Outliers Fund

Phil Fogel, co-founder of Cork Protocol, announced via X that the team is investigating a potential exploit and has paused all smart contracts as a precautionary measure.

While it’s still early to calculate the damages, some reports suggest that Cork Protocol may have suffered a loss of approximately $12 million in a suspected breach. 

According to Cyvers Alerts, a malicious contract was deployed on May 28, 2025, at 11:23:19 UTC. The contract was funded by an address beginning with 0x4771 and ending with 762B, which may be associated with a service provider.

Blockchain security firm SlowMist has issued a security alert regarding the incident, drawing attention to the possible vulnerabilities exploited. At the moment, the attack is suspected to have occurred due to a private key leak or phishing incident in…

The post Cork Protocol Pauses Contracts Amidst Investigation Of Potential Exploit appeared first on Coin Edition.

Read the article at CoinEdition

Read More

Curve Considers Pivot Away From Ethereum Layer 2 Networks After Poor Yield

Curve Considers Pivot Away From Ethereum Layer 2 Networks After Poor Yield

A governance proposal within Curve Finance is causing a stir in the DeFi community, a...
Two Major Ethereum Whales Are Quietly Buying the Dip

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Two large Ethereum investors are seizing the recent market correction to increase the...