Wasabi Protocol Hack: 4.55M$ DeFi Heist

Wasabi Protocol suffered a $4.55 million exploit after attackers seized the private key for wasabideployer.eth and transferred the ADMIN_ROLE, using a UUPS proxy upgrade to replace perp vault and Long Pool implementations and drain funds. Targeted vaults spanned Ethereum (wWETH, sUSDC, wBITCOIN, wPEPE) and Base (sUSDC, wWETH, sBTC, sVIRTUAL, sAERO, sBRETT). The incident reinforces smart-contract and single-key risks across ETH and Layer‑2 futures venues, prompting user advisories to revoke LP approvals. The hack adds to 2024’s cumulative DeFi losses (>$770M) and is cited as weighing on ETH’s sideways trend despite a modest price uptick; analysts warn of growing trust erosion that could hamper futures and L2 adoption unless multisig/timelock practices become standard.