Abracadabra Recova Half of $13M Hack Loss, Focuses on Expansion Amid Security Concerns
Abracadabra.Money suffer $13 million hack, with 6,260 ETH wey dem steal from dia GM pool through one exploit wey involve GMX-related contracts. Even though GMX deny say dia contracts get any problem, Abracadabra face wahala for dia MIM stablecoin, wey dey remember one old story where dem lose $6.49 million. To fight this one, Abracadabra manage to collect half of the money wey dem lose by buying back MIM. The company talk say user money no touch and dem plan to use money wey dey government hand to buy back more to make sure say everything dey stable. Dia plan to grow include enter Berachain and Nibiru Chain, launch one DEX project—Purrswap for HyperEVM chain, and work with Chainalysis to find the rest of the money wey dem steal. To talk with the hacker still dey on the table. Now, MIM value don go down small but e still dey okay.
Neutral
Di news dey show both risk and assurance for inside crypto market. Even though di first hack show say security no strong well, di way dem take recover half of di money and di strong measures wey dem put in place to make am stable and grow, don bring back some trust. Even with di drop wey happen to MIM value, di overall stability and plans wey dem get go fit reduce di bad market wey dey come. Di way dem dey expand to new chains and dey work with Chainalysis, show say better things fit still happen for future, e dey balance di bad things wey don happen. Traders suppose dey careful but get hope about how Abracadabra go recover and di plans wey dem get to grow.