Crypto Hack Forces Cork Protocol Shutdown

Cork Protocol Halts Operations After $12 Million Hack

• Cork Protocol experienced a $12 million crypto asset theft due to a hacking incident.
• The breach exploited a vulnerability in the wstETH:weETH market’s smart contract.
• All trading activities have been suspended by the Cork Protocol team for investigation.
• Security experts from Cyvers and SlowMist were among the first to report the hack.
• The stolen assets have been traced but remain unlaundered by the hacker.

Cork Protocol has paused all trading activities following a $12 million theft, with investigations focusing on vulnerabilities in the wstETH:weETH market. The assets have been traced but not yet laundered.