AbstractChain has reported a security breach affecting its ecosystem, with the team confirming that the incident was limited to the Cardex app. The company assured users that the issue has been contained and that core blockchain infrastructure remains secure.
Details of the Breach
According to an official statement from AbstractChain, the breach was discovered after users reported unauthorized transactions within the Cardex app, a decentralized finance (DeFi) application running on the AbstractChain network. Upon investigation, the team determined that the issue was isolated to Cardex’s smart contract vulnerabilities rather than the broader AbstractChain protocol.
Immediate Response & Containment
In response to the breach, AbstractChain and Cardex developers:
- Paused transactions on the affected smart contract to prevent further exploitation.
- Launched an internal security audit to identify the root cause.
- Engaged with blockchain security firms to assess potential fund recovery options.
The team reassured users that no other AbstractChain-based applications were compromised and that its main network remains fully operational.
AbstractChain is working closely with security experts to patch vulnerabilities and enhance its security framework. The company has also hinted at plans to reimburse affected users, although details remain undisclosed.
As DeFi platforms continue to be prime targets for cyberattacks, the incident underscores the importance of rigorous smart contract auditing and proactive security measures.
The AbstractChain team has promised to provide further updates as investigations progress. Users are advised to monitor official channels for the latest developments.