Stablecoin DEX Saddle Finance Hacked for $10 Million in DeFi Exploit

Decentralized exchange Saddle Finance, which specializes in trading stablecoins, has been hacked in a DeFi exploit, resulting in the theft of over $10 million in ether cryptocurrency. Saddle Finance confirmed the incident and is investigating a possible exploit. Smart contract audit firm BlockSec was able to rescue $3.8 million using an internal system that can detect and front-run hacking incidents using off-chain arbitrage bots. However, the hacker still made off with more than $10 million in ETH from Saddle's liquidity pools, and the company is currently in the process of recovering the $3.8 million from BlockSec.

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