Wasabi Protocol Suffers $5 Million Hack Across Multiple Chains
- Security Breach Losses: The Wasabi Protocol suffered a hack resulting in over $5 million in losses across multiple blockchain networks, including Ethereum, Base, Berachain, and Blast, highlighting the attackers' meticulous planning and multi-chain execution capabilities, which exacerbate security vulnerabilities in the decentralized finance (DeFi) sector.
- Compromised Admin Key: Investigations revealed that the attacker exploited a compromised admin key to bypass critical security measures, gaining unauthorized upgrade access to core smart contracts, which allowed control over liquidity pools and vault contracts, facilitating rapid fund extraction and significantly increasing the scale and speed of the exploit.
- Liquidity Risk Warning: Blockaid warned that liquidity provider tokens linked to affected vaults should be treated as compromised due to the underlying assets being drained, leaving remaining positions exposed to further risk while the compromised key remains active, increasing potential losses.
- Market Confidence Erosion: This incident occurs amid a particularly challenging security landscape for decentralized finance, with over 25 protocols hacked this month alone, totaling losses exceeding $600 million, particularly intensified by the Kelp DAO incident, which accounted for $292 million, raising concerns about the increasing sophistication of attacks.
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Technical Analysis for ETH
Technical Sentiment Analysis for Ethereum (ETH). As of , Ethereum (ETH) is exhibiting a Strong buy technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 6 indicators are flashing buy, while 2 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for ETH stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, ETH is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Ethereum (ETH) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 2012.133 | 2116.247 | 2215.523 | 2319.637 | 2418.913 | 2523.027 | 2622.303 |
| Fibonacci | 2116.247 | 2193.942 | 2241.942 | 2319.637 | 2397.332 | 2445.332 | 2523.027 |
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