IPOR Confirms $336,000 Loss Due to Exploit in Fusion Plasma Vault
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
- Exploit Confirmation: The IPOR team confirmed that a legacy Fusion Optimizer vault on Arbitrum was exploited, resulting in a loss of approximately $336,000 USDC, which, while less than 1% of total funds secured by the Fusion system, still impacts user confidence significantly.
- Vulnerability Analysis: The flaw in the contract implemented through EIP-7702 allowed attackers to deploy malicious contracts within the PlasmaVault architecture, highlighting deficiencies in the project team's contract security that necessitate enhanced review and testing protocols.
- Response Measures: The IPOR team is collaborating with security organizations to trace the stolen funds and has committed to fully reimbursing affected depositors from its treasury, demonstrating a strong commitment to user fund safety and accountability.
- Future Security Assurance: IPOR emphasized that additional safeguards have been implemented and confirmed no further vulnerabilities exist across other Fusion vaults, aiming to restore user trust and ensure the security of future operations.
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.
