Decentralized lending platform abracadabra.Finance suffered an attack that drained $ 13 million value of cryptocurrency from pools tied to GMX Liquidity tokens.

Blockchain safety company Peckshield marked that contracts involving decentralized exchange GMX and Abracadabra were compromised, which led to theft of 6,260 ETH, worth about $ 12.98 million at the time of writing.

The exploitation focused on so -called “cauldrons”, isolated lending markets in Abracadabra, where users can borrow against crypto security. These particular boilers depended on the GM tokens, representing liquidity positions in GMX, a decentralized exchange platform.

GMX distanced itself from the incident. In a post on X, an account associated with Exchange said GMX’s contracts themselves were not affected. The team later said that the violation was “solely related to Abracadabra/Spell Caulrons,” which used GM -Tokens as security but not involved GMX’s core infrastructure.

In a statement of X, Abracadabra confirmed exploitation and said that core contributors and engineers examined the incident to its “fully revised” Cauldron. The protocol noted that GMCAULRONS had been revised by Guardian Audits – the same company that revised GMX contracts – and was part of a broader security infrastructure involving monitoring and response tools.

The protocol offered the striker a 20% bug-bounty and invited them to negotiate via email or an on-chain message.

Abracadabra collaborates with Guardian and GMX as well as other security partners in the assessment of the injury and how the attack was executed. A full post-Mortem will follow when the study is completed and no user security was affected, it says.

Last year AbraCadabra.finance LED a utilization of $ 6.49 million It made its Magic Internet Money (MIM) stableecoin lose its point to the US dollar.