Security Incident · Wallet
Concentric Finance Social Engineering: $1.70M Reported Loss
The DeFi protocol Concentric Finance, built on the Camelot v3 protocol, has suffered a severe security breach.
- Reported loss
- $ 1,700,000
- Attack category
- Social Engineering
Incident Overview
In an official post on social media, Concentric.fi stated that the security breach due to a targeted social engineering attack on one of their team members holding the deployer wallet. The attacker exploited vulnerabilities to upgrade the vaults, mint new LP tokens, and subsequently drained the platform's assets.
Sources & References
This record presents information attributed to the linked sources. Incident dates describe the original event, not a new report. Reported loss figures reflect the source record and are not current market valuations.