In a plot twist that would make a late-night TV writer retire to a cabin with a bottle of cheap office coffee, Wasabi Protocol got hacked across Ethereum, Base, Berachain, and Blast, snatching over $5 million like a magician who forgot the trick and kept the money anyway. Yes, the security team is probably crying into their keyboard right now.
Here’s the grown-up version: the attacker used the deployer wallet to grant ADMIN_ROLE to a shady helper contract, which then performed a UUPS upgrade of the perp vaults and the LongPool. Translation: someone handed a shiny badge to a questionable sidekick, and the sidekick pressed upgrade like it was a flavor of new avocado toast.
The upgrade replaced core logic with a malicious implementation that allowed funds to be drained across connected chains. It’s basically a software update that forgot to include the “do not steal my money” patch and decided to go full glitter bomb instead.
Let this be a reminder that privileged access control and upgradeable smart contracts in DeFi are a high-stakes game show where the wrong move can drain the prize pool and leave you explaining to your investors why your security budget now includes a strong espresso and a therapist.
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2026-04-30 14:06