Orange Finance Suffers Hack Resulting In Significant Loss

According to PANews, Orange Finance, a liquidity management protocol on Arbitrum, has been hacked, resulting in the loss of approximately $787,000 in cryptocurrency assets. The breach was reported by PeckShieldAlert, which revealed that the attacker gained control of the administrator address, upgraded the contract, and transferred the funds to their wallet. Users are strongly advised to immediately revoke all contract authorizations related to Orange Finance to prevent further losses and cease any interactions with the compromised protocol. Orange Finance has attempted to contact the attacker via Arbiscan to negotiate the return of the stolen funds.