$464,000 Stolen from Premia Labs, Assets Converted to Bitcoin

The Premia Labs protocol on the Arbitrum network has been targeted in an attack, resulting in the theft of approximately $464,600 from its option treasury assets. After withdrawing the assets, the attacker transferred them from Arbitrum to Ethereum and then converted them to Bitcoin through cross-chain services. An analysis by Blockaid reveals that the attacker initially created empty option pools and executed specific trades using instant loans, which caused the collateral in the treasuries to be locked in these pools. Subsequently, the attacker was able to withdraw the collateral as liquidity and transfer the assets to wallets under their control. The affected assets included approximately 3.64 WBTC, nearly 43.47 WETH, about 48,479 USDC.e, and 46,215 ARB. According to a report by PeckShield, the stolen assets were first transferred to Ethereum and then converted to Bitcoin via Chainflip and NEAR Intents. As of the publication of this news, Premia Labs has not yet released complete details regarding the source of the vulnerability or plans to compensate users.

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