DeFi Platform Cork Protocol Suffers $12M Smart Contract Exploit

Decentralized finance (DeFi) platform Cork Protocol has suffered a smart contract exploit, with hackers reportedly stealing $12 million worth of wrapped staked ether (wstETH).Blockchain security monitor Cyvers noticed the exploit, stating that the malicious contract was deployed by a wallet likely funded by a service provider.It added that $12 million worth of wstETH was quickly swapped for ETH.Cork Protocol received investments from a16z crypto and OrangeDAO in September 2024 source: https://www.coindesk.com/business/2025/05/28/a16z-backed-cork-protocol-suffers-usd12m-smart-contract-exploit