Prisma Finance contract has been closed, team: please ask users to revoke relevant permissions

The liquidity-backed token (LRT) project Prisma Finance was hacked yesterday, resulting in a loss of over $10 million. The team subsequently tweeted that the contract has been closed to prevent further risk and advised users on how to revoke wallet authorizations.

Prisma Finance Suffers Hacker Attack

Yesterday evening, the liquidity re-collateralization stablecoin project Prisma Finance was hit by a flash loan attack that minted a large amount of mkUSD. As the vulnerability was not addressed in a timely manner, it appears to be continuously targeted by other addresses, resulting in a total loss exceeding $10 million.

Prisma Finance under attack, cybersecurity experts comment: Restaking breached, losses over ten million euros

This has also led some in the community to distrust the LRT project, questioning if it could lead to a chain reaction.

Team Reminds Users to Revoke Authorization

In the latest update, the Prisma Finance team has announced the closure of the contract operations. The excessive minting of mkUSD and ULTRA has caused a price drop, but there are no further risks at this point.

The Prisma Finance team advises users to revoke proxy authorization and users need to revoke authorization on their LST and LRT contracts:

LST: Contract Etherscan Interface

• _delegate: 0xcC7218100da61441905e0c327749972e3CBee9EE
• _isApproved: false

LRT: Contract Etherscan Interface

• _delegate: 0xC3eAf094e2586965244aB6534f6Dc69c6C16b5D5
• _isApproved: false

The team's next steps include releasing an incident report and attempting to recover the funds.