Abracadabra Finance’s MIM stablecoin falls from peg after $6.5M hack

Digital assets associated with the decentralized finance (DeFi) project Abracadabra Finance, including its Magic Internet Money (MIM) stablecoin, values fell after its team confirmed an exploit of the platform. In a Jan. 30 post on social media platform X (formerly Twitter), the project’s team acknowledged an ongoing exploit involving certain Ethereum cauldrons. “Our engineering team […] source: https://cryptoslate.com/abracadabra-finances-mim-stablecoin-falls-from-peg-after-6-5m-hack/