DeFi Platform Abracadabra Hit by $1.8 Million Cyber Attack
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: Oct 07 2025Cyber Breach Overview: The Abracadabra DeFi platform experienced a cyberattack resulting in the theft of $1.8 million worth of its stablecoin, Magic Internet Money (MIM), highlighting vulnerabilities in decentralized finance.
Response and Security Measures: In response to the breach, Abracadabra repurchased the stolen funds, suspended the vulnerable feature, and initiated a comprehensive code review, emphasizing the need for improved security measures and user protection.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
