Premia Labs Loses $464,600 in Arbitrum Exploit as Hacker Swaps Assets for Bitcoin

Premia Labs suffered an estimated $464,600 exploit across its options vaults on the Arbitrum network, with stolen proceeds subsequently converted into Bitcoin. Security firms PeckShield and Blockaid reported that the attacker drained collateral across two transactions using flash loans and empty options pools. Stolen tokens included 3.64 wrapped Bitcoin, 43.47 wrapped Ethereum, 48,479 USDC.e, and 46,215 ARB. Following the extraction, the perpetrator bridged the assets from Arbitrum to the Ethereum blockchain and swapped the funds into Bitcoin via cross-chain routing services Chainflip and NEAR Intents.