Hack Alert - Mozaic Finance Vault Exploited For $2M
Quick Summary
Mozaic_Fi experienced an exploit resulting in a loss of approximately $2 million today (15 March 2024) according to Certik Alerts.
Vaults associated with the Mozaic project have been emptied.
The stolen funds were moved to the Mexc platform.
The funds were withdrawn to two distinct wallets, with addresses:
0xD6d4e8038DF50803412d1b1Ad2c9845BACf7c52b
0x76783b5387A3C95cc96442BF609d214547ED0cf4
The attack appears to have been a private key compromise involving the Vaults' MASTER address.
Funds were withdrawn from the vault through a
bridgeViaLifi
call, which can only be initiated by an individual in the MASTER role.
What Could I Have Done To Protect Myself As A Crypto User?
A practical piece of advice to mitigate risks in situations like the Mozaic Fi exploit is to limit your exposure: only invest a small portion of your portfolio in any single platform or project.
The circumstances under which the private key was leaked are still unknown and with early projects that lack security maturity, exposure risk must always be limited.