Premia Labs loses $464K in Arbitrum exploit as hacker swaps funds for BTC

Premia Labs has suffered an estimated $464,600 cryptocurrency exploit on Arbitrum, with the attacker reportedly moving stolen funds across blockchains before converting them into Bitcoin. Summary PeckShield reported that Premia Labs lost approximately $464,600 in an exploit targeting its options vaults on Arbitrum. Blockaid traced the attack to empty options pools, flash loans and transactions that allowed the attacker to withdraw vault collateral. The stolen assets reportedly moved from Arbitrum to Ethereum before being converted into Bitcoin through Chainflip and NEAR Intents. Independent on-chain analysis identified six affected vaults containing WBTC, WETH, USDC.e and ARB. The attack follows several cryptocurrency security incidents involving cross-chain transfers and decentralized trading services. According to blockchain security firm PeckShield, the attacker transferred the stolen assets from Arbitrum to Ethereum before using Chainflip and NEAR Intents to swap them into BTC. Its November 1 security alert placed the losses at $464,600, equivalent to roughly 131 ETH at the valuation cited in the initial reports. The incident affected options vaults associated with Premia Labs,...