Themis Protocol is a lending platform that has had somewhat of an excruciating rollout, with users waiting ever longer for the platform to finally go live as they endured multiphased airdrops but no usable product. On June 16, the project finally launched in beta on Arbitrum, an Ethereum layer 2.Only eleven days later, on June 27, the team boasted that the project “has grown to over $1m TVL in 2 working days”. An hour after that, they announced that they would be suspending the protocol and beginning an immediate investigation into an apparent theft. Themis boasts in its documentation that “security is the highest priority” of the project, and lists multiple audits from PeckShield.An attacker was apparently able to exploit the project, draining around 220 Themis-wrapped ETH (nominally worth $417,000). Due to liquidity issues, they could only swap these for around 94 ETH ($178,000) and almost $190,000 in stablecoins, for a total haul of around $368,000.

Total loss estimated at $368,000.