Arbitrum-Based DeFi Protocol Rodeo Finance Falls Victim to Cyberattack

The decentralized finance (DeFi) protocol Rodeo Finance, based on Arbitrum, has been targeted in a cyberattack. Approximately 810.1 ETH, worth around 1.5 million dollars at current prices, was seized from the platform. The protocol’s local cryptocurrency, Rodeo (RDO), has lost over 50% of its value within hours. Cyberattack on Arbitrum-based DeFi Protocol With the global popularity of blockchain technology and cryptocurrencies over the years, security issues within the crypto ecosystem have also increased significantly. According to various reports published by numerous companies recently, the number of cyberattacks in the crypto ecosystem has significantly risen lately. As discussions about increasing security problems in the crypto ecosystem continue, another security problem occurred. The Arbitrum-based DeFi protocol Rodeo Finance was hacked. PeckShield, a blockchain security company, announced that more than 800 ETH was seized at Rodeo Finance, according to PeckShield Alert, which deals with security issues in the crypto ecosystem and provides information […] The post Arbitrum-Based DeFi Protocol Rodeo Finance Falls Victim to Cyberattack appeared first on COINTURK NEWS.