Wasabi Protocol exploited for over $5M across multiple chains via compromised admin key used to drain funds.
Security & Exploits ·
Wasabi Protocol was hit by an exploit exceeding $5 million across multiple chains, according to security firms Blockaid and CertiK. The attack leveraged a compromised admin key to upgrade Wasabi Protocol contracts and drain user funds.
The mechanics involved unauthorized use of privileged access—specifically an administrative key—to modify the protocol's smart contracts. This allowed attackers to execute fund transfers without standard authorization checks. The compromise affected the protocol across multiple blockchain networks simultaneously, amplifying the total damage.
The exact scope of affected chains and the complete timeline of the breach remain unclear. It is also not yet specified whether user recovery mechanisms or compensation plans are being considered, or what security measures Wasabi intends to implement to prevent similar incidents.