The Moby Trade defi options protocol suffered a $1 million loss, narrowly avoiding the loss of another nearly $1.5 million. The project team stated that a hacker had “identified and exploited a vulnerability in the key management system” that was supposed to protect a private key used by the project. Using the private key, they were able to perform contract upgrades that then allowed them to drain about almost $1.1 million in wBTC, wETH, and USDC.Another $1.47 million in assets were vulnerable as a result, but the whitehat blockchain security firm Seal911 successfully drained those funds to later be returned to the protocol once it was secured.

Total loss estimated at $1,088,500.