Digital Forensics: Credit: Skrypnykov Dmytro / Shutterstock Asus’ routers and popular and well-reviewed. As such, there’s a good chance you have one of its devices powering your home wifi. If you do, you should probably check on it, since thousands of Asus’ routers are now compromised. What happened? Cybersecurity company [...]
You are here: Home/News/ Zoth Protocol Hit by $8.4 Million Security Breach: Report
Zoth loses $8.4 million in assets after a security breach triggered by a compromised deployer wallet.
The attacker quickly converted the stolen funds into DAI and transferred them to another address.
Zoth’s website was taken down for maintenance as the team works to resolve the breach and improve security.
Zoth, restaking protocol that received funds from borderless and blockchain founders fund, has been hacked. As a result of the leak, it was revealed that the firm lost $8.4 million in streaming assets. According to Cyvers Alerts, a protocol, the deployer wallet was hacked, and the funds began to be withdrawn due to suspicious transactions.
Cyvers Alerts states that the attack happened after a proxy contract known as “USD0PPSubVaultUpgradeable” was upgraded. This upgrade was associated with a contract formed by an address belonging to the sting operation cutter. The upgrade happened just roughly 30 minutes to the time when the breach was observed. After that, the attacker has cashed out $8.4 million in stablecoin USD0++.
🚨ALERT🚨Our system has detected a suspicious transaction involving @zothdotio. It appears that the protocol’s deployer wallet has been compromised.
30 minutes ago, the proxy contract “USD0PPSubVaultUpgradeable” was upgraded to a contract created by a suspicious address. The… pic.twitter.com/3OHmvJYpR5
Digital Forensics: Zoth Website Taken Down for Security
The stolen funds were realized and instantly converted into the DAI stablecoin. In some cases, for instance, the assets were relocated to another address within a span of minutes. This meant that the funds were transferred within a short time raising concerns of the speed and level of the attack. As such, Zoth pulled its website and made it unavailable to the public while it posted a ‘Coming Soon’ message. This was done to help further security issues that have been persistent in the past.
In the official statement, Zoth’s team has officially stated the fact of the security breach. In this they also eased public concern by telling them that they are in touch with partners to have the problem fixed. Zoth also promised to come up with a detailed explanation once he is through with the inquiry. As of now, the platform is reportedly making effort on how to reduce the effect of this breach from its users.
Security Notice
Our system has experienced a security breach. We’re actively investigating the incident and taking all necessary steps to resolve it as swiftly as possible.
We are working closely with our partners to mitigate the impact and fully resolve the issue. A detailed…
This has made the community have a heightened sense of security since the attack that happened to it. Zoth users are therefore advised to keep abreast in the coming days as more information unfolds. More modifications can be anticipated in the course of the investigation. It has been raised questions of security within decentralized applications as well as how secure they are regarding to the assets of users.
Digital Forensics: Secured $4 Million Funding
In August of 2024, the platform obtained $4 million for the issue of a tokenized liquid note with security in such assets as U.S. Treasury bills and corporate bonds with higher ratings. This funding round brought in investors such as Taisu Ventures, G20 and Fat Cat Ventures.
Nevertheless, there are instances when significant setbacks may be noted as in the case of Zoth which will strive to regain public trust. The protocol is also trying its best to enhance its security to avoid such incidents in the future. In the process of continuing to solve the problem for users, the team is very attentive to sharing more information and clarifications to the affected users.
Digital Forensics: By Mark Hunter 11 hours agoFri Mar 21 2025 10:18:45 Reading Time: 2 minutes BNB Chain memecoin launchpad Four.Meme has suffered a second security breach within six weeks ...
Digital Forensics: Credit: Skrypnykov Dmytro / Shutterstock Asus’ routers and popular and well-reviewed. As such, there’s a good chance you have one of its devices powering your home wifi. If [...]
Post comments (0)