Hedgey Finance, a token infrastructure platform, experienced a theft of $44.5 million in cryptocurrencies within two hours by exploiting a vulnerability in the 'createLockedCampaign' function. The attacker used flash-loaned funds to execute the theft on Ethereum's Arbitrum and Binance Smart Chain, stealing $1
9 million initially, then $42.8 million. Despite rapid anomaly detection, contacting Hedgey Finance's team was unsuccessful, highlighting the need for better communication between dApps and security firms for risk mitigation. The attack resulted in a 10% drop in the BONUS token's value. The attacker transferred over 200,000 BONUS tokens to Bybit exchange, complicating asset recovery. Hedgey Finance is investigating the attack and advising users to cancel active claims. The incident underscores the critical need for enhanced security measures and collaboration in the digital asset space. ```https://cybersecuritynews.com/token-infrastructure-platform/