Beluga, a Multichain AMM protocol, has fallen victim to a hacking attack, resulting in the theft of approximately $175K in cryptocurrency. The attack targeted the Beluga protocol deployed on the Arbitrum network. Security firm PeckShield reported the incident, stating that the attackers exploited several vulnerabilities to steal tokens, initially taking 59 ETH. The attacker then deposited 0.1 ETH into their wallet from the OKX cryptocurrency exchange, raising concerns about fraudulent identification used to bypass KYC verification. The attacker continued to steal more, bringing the total amount to 108.9 ETH, worth around $168K. Eventually, the loot reached 113.3 ETH or approximately $175K. The stolen funds were transferred to the MEXC crypto exchange network. The Beluga team has not yet commented on the incident. This attack caused a slight but sharp decline in the token’s price. Beluga has faced multiple exploits this year, including an OTC scam incident. The crypto space has seen a surge in hack attacks, with projects losing $890 million between July and September. In Q3 alone, hack attacks increased by over 100%.

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Information	Details
Geography	Global
Countries
Sentiment	negative
Relevance Score	1
People	None
Companies	Beluga, X, MEXC, OKX, Certik, PeckShield
Currencies	Ethereum
Securities	None