Wasabi Protocol

Private Key Leakage

Estimated loss

$5.70M

VERDICT —OUT OF SCOPE

Root cause is private-key / signer compromise — the on-chain contract behaved exactly as written. No pre-deployment source audit or bytecode review reaches the key-custody perimeter; this is operational-security territory (HSM/MPC hygiene, key rotation, hot-wallet isolation). Bytecode would show nothing wrong.

▰ METHOD

PRIVATE KEY

PRIVATE-KEY

Root cause

Root-cause analysis not yet published. The incident description below contains all currently available signal — review the attack transaction directly for definitive forensics.

Forensic narrative

On April 30, 2026 (UTC), Wasabi Protocol experienced a security incident. Attackers exploited an analytics surface (Spring Boot Actuator heap dump) on the project’s AWS infrastructure, which leaked credentials and ultimately allowed them to obtain the private keys controlling the EVM smart contracts. The attackers then launched a withdrawal attack, draining $4.8 million in user funds from the listed EVM vaults and an additional $900,000 from Wasabi’s treasury. The breach was limited to EVM deployments on Ethereum Mainnet, Base, Blast, and Berachain. The Solana deployment and Prop AMM were completely unaffected. The team contained the attack within the first 48 hours, rotated keys, locked down contracts, reopened withdrawals for unaffected vaults on May 2, and engaged external security firm zeroShadow for on-chain tracing, recovery efforts, and law enforcement coordination. Attack method (per SlowMist): Private Key Leakage. Reported loss: $ 5,700,000.

Primary source

https://x.com/wasabi_protocol/status/2052856772717682724 ↗

Sourced from

slowmist

Technical record