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Home Incidents

Zoth Protocol Hit by $8.4M Hack and Exploit

March 24, 2025
Reading Time: 2 mins read
in Incidents
Cyberattack Hits Lithuania Emergency Website

Zoth, a real-world asset (RWA) re-staking protocol, was hit by a significant exploit on March 21, resulting in over $8.4 million in stolen funds. The blockchain security firm Cyvers flagged suspicious activity when it detected that the protocol’s deployer wallet had been compromised. The attacker swiftly withdrew the assets, which were then converted into the DAI stablecoin within minutes and transferred to another address. In response to the breach, Zoth immediately placed its website into maintenance mode to prevent further damage while investigating the incident. The stolen funds were traced to an unknown address, raising concerns about the protocol’s security weaknesses.

The Zoth team worked quickly to mitigate the impact of the exploit, collaborating with partners to resolve the issue as swiftly as possible. They assured the community that a detailed investigation report would be published once the problem was fully resolved. The attack prompted the protocol to take additional security precautions to prevent similar breaches in the future. Despite these actions, the breach revealed serious vulnerabilities in the protocol’s smart contract system, emphasizing the need for better security measures in decentralized finance (DeFi) platforms.

Blockchain security experts believe the exploit was likely caused by a leak in admin privileges, which allowed the attacker to gain unauthorized control over the protocol. About 30 minutes before the attack, a malicious version of the Zoth contract was deployed by a suspicious address, bypassing existing security mechanisms. This unexpected upgrade granted the attacker full control over user funds instantly, making the exploit particularly difficult to detect and stop in time. Unlike typical exploits, this attack method highlighted a gap in security that could potentially be exploited again in other DeFi platforms.

To prevent future attacks, experts have recommended several security enhancements, including multisig contract upgrades to prevent single points of failure. Implementing timelocks on upgrades, real-time alerts for admin role changes, and improving key management could all help reduce the risks of unauthorized access. Despite these preventive measures, security professionals warn that admin key compromises remain a major vulnerability in the DeFi ecosystem. Without decentralized upgrade mechanisms, attackers will likely continue targeting privileged roles to take control of protocols, making this a continuing concern for the industry.

Reference:

  • Zoth Protocol Exploit Results in $8.4 Million Loss Following Admin Privilege Breach
Tags: cyber incidentsCyber Incidents 2025Cyber threatsMarch 2025
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