The Arcadia Finance defi margin protocol was exploited for $3.5 million after an attacker found a vulnerability in a project smart contract. The attacker quickly swapped the stolen tokens and bridged them from Base to the Ethereum mainnet. The attacker stole the funds in two separate transactions that were more than four hours apart.Arcadia is backed by Coinbase Ventures. The project acknowledged the hack, encouraging users to revoke permissions.

Total loss estimated at $3,500,000.