Arbitrum-based Orange Finance suffered a security breach, resulting in the theft of approximately $787,000 in crypto assets. The hacker exploited administrative controls to upgrade smart contracts, enabling unauthorized fund transfers to an external wallet. Security firm PeckShieldAlert confirmed the attack, prompting Orange Finance to advise users to halt all interactions with the platform and revoke permissions. The team is actively investigating the breach and working to resolve the issue, emphasizing the need for caution among users to prevent further losses.
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