Filament Finance Report $ 572K Exploit, Stop Operation and White-Hat Bouncing Recovery.
Alisa Davidson
Post: April 7, 2025 3:08 AM Update: April 7, 2025 3:08 AM
Edit and fact confirmation: April 7, 2025, 3: 8 am
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Filament Finance reported the maddowns of the target, resulting in unauthorized fund withdrawal related to price manipulation within the order.
The filament financing reported the exploitation of a decentralized exchange of chain derivatives from the SEI network, causing unauthorized fund withdrawal related to price manipulation within the order document.
According to the platform, the use occurred between April 6, 12 am and 4:00 am. Attackers have used adjusted strategies associated with large order deployment and self -liquid mechanisms in multiple accounts. Prior to the accident, the user deposit was about $ 680,000, which lost about $ 572,000 as a result of exploitation.
Accordingly, Filament Finance took immediate security measures. Transactions and withdrawal were temporarily suspended to prevent further loss. The platform is actively investigating the case in cooperation with the legal and experienced blockchain forensics.
The platform has been tracked by the attacker’s movement, and the stolen funds are mainly routed by a fixed float exchange through the symbiotic bridges. Wallet address and related trading data have been edited and shared with related organizations and security partners to support the asset recovery process.
The filament team also contacted major distributed finance (Defi) and ecosystem partners to support adjusted recovery efforts. Currently, the project website is receiving maintenance and is not temporarily accessible.
Pilament finance
As part of a recent response, the platform also announced a public proposal for an attacker (10% white bounty) as a replacement for voluntary profits of 90% of the compromised funds. This proposal is conditional according to complete cooperation and full profits of assets. Filament Finance also expressed its willingness to participate in a constructive conversation to solve the problem without escalation. But this emphasized that it was a sensitive opportunity for time to encourage responsible resolutions and avoid potential legal results.
Filament Finance is operated by permanent exchange distributed in the SEI network and was developed to optimize the trading experience of both individual traders and liquidity providers. Using a hybrid model that combines off chain order and chain liquidity pool, the platform is trying to solve continuous problems such as insufficient liquidity and inefficient use of the niche market. This approach allows the filament to provide transaction performance compared with the centralized platform even in low liquidity environments. In September 2024, the project secured $ 1.1 million seeds from several supporters, including Lingfeng Innovation Fund, Halo Capital and Spyre Group.
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About the author
Alisa, a dedicated reporter for MPOST, specializes in the vast areas of Cryptocurrency, Zero-ehnowedge Proofs, Investments and Web3. She provides a comprehensive coverage that captures a new trend and a keen eye on technology, providing and involving readers in a digital financial environment that constantly evolves.
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Alisa Davidson
Alisa, a dedicated reporter for MPOST, specializes in the vast areas of Cryptocurrency, Zero-ehnowedge Proofs, Investments and Web3. She provides a comprehensive coverage that captures a new trend and a keen eye on technology, providing and involving readers in a digital financial environment that constantly evolves.
More