Beluga Protocol, the protocol behind the Beluga decentralized exchange, has been exploited on Arbitrum for approximately 59 ETH ($91,037 at current rates), reports blockchain security firm PeckShield.
The exploiter initially funded 0.1 ETH from the OKX cryptocurrency exchange.
According to PeckShield, the exploit is still ongoing, with a total loss of 108.9 ETH ((approximately $168,000) at the time of writing.
Beluga Protocol is a multichain stable swap that enables cross-chain swaps with a Layer-3 (L3) infrastructure. It collects liquidity from all chains.
Products include one-way liquidity, permissionless pools, incentivized farming and L3 solutions.