Garden Finance Reportedly Loses Over $10.8 Million in Hacking Incident
Garden Finance’s $10.8 million hack came just days after being linked to money laundering, adding irony to the breach. With uncertainty around total losses and chains affected, the platform’s response highlights crypto’s persistent vulnerability to exploits.
Garden Finance recently suffered a hack, with at least $10.8 million in reported losses. Crypto sleuth ZachXBT identified the hacks just days after calling out the platform for facilitating money launderers.
This isn’t the first time a similar incident has occurred in the crypto space. Earlier this year, THORChain enabled North Korean hackers to launder funds, but they stole from THORChain’s founder a few months later.
Garden Suffers Major Hack
Earlier this week, Garden Finance announced that it had bridged over $2 billion in tokens, but several prominent sleuths accused it of money laundering.
ZachXBT claimed that over 25% of its traffic came from illicit sources, while Tayvano alleged that DPRK-based criminals were using it en masse.
It’s ironic, then, that those same investigators already have another reason to address the company. Earlier today, ZachXBT reported that Garden suffered a $10.8 million hack:
“Garden Finance was likely exploited for $10.8M+ on multiple chains. An address related to the team sent a message onchain to the alleged exploiter offering a 10% whitehat bounty. A few days ago, I pointed out…how Garden Finance was ignoring victims,” he claimed via Telegram.
His initial message mentioned only $5.8 million in losses before it was revised to a substantially higher number. The edit also claimed that “all freezable assets were quickly swapped.” In other words, it’s unclear exactly how much Garden lost in this hack, but the damage is significant.
Garden itself claimed that the hack compromised multiple blockchains, but it only mentioned Arbitrum directly. The firm also said that “assets have been taken from us,” rather than suggesting that user funds were a primary target. For the moment, we don’t have any more details about the attack’s technical specifications.
An Ironic Misfortune
Still, all things considered, Garden isn’t the first company to suffer an ironic hack like this. THORChain, for example, was accused of laundering money from hackers on several occasions, including from North Korea’s feared Lazarus Group.
DPRK-based criminals then stole $1.3 million from THORChain’s founder a few months later.
Incidents like this generally don’t encourage white hat crimefighters to investigate these cases. Besides, if it’s impossible to freeze any stolen assets, what could they even do?
Community investigators could assemble evidence for future prosecution, but that may be totally impractical.
Ultimately, Garden Finance will have to hope that its 10% bounty incentivizes the hackers to cooperate. Otherwise, it’ll be difficult to get much closure beyond an analysis of the breach itself.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Animoca Receives ADGM Authorization, Opening a Regulated Avenue for Institutional Web3 Investments
- Animoca Brands secures in-principle approval from ADGM to operate as a regulated fund manager, advancing its institutional Web3 investment strategy in the Middle East. - The conditional approval enables compliance-focused expansion, aligning with UAE's blockchain innovation goals and institutional-grade investment pathways in gaming, NFTs, and tokenized assets. - With stakes in 600+ Web3 ventures, Animoca plans to integrate its ecosystem into regulated structures, complementing its $1B valuation target v

Dogecoin Latest Updates: Crypto Winter Challenges DOGE ETFs While Technical Indicators Suggest a Potential 80% Surge
- Dogecoin (DOGE) could surge 80-90% as ETF launches approach, driven by a falling wedge pattern and institutional interest in Grayscale's GDOG and 21Shares' products. - Technical analysts compare DOGE's potential to XRP's 2025 ETF-driven rally, though broader crypto weakness and high interest rates pose risks to sustained gains. - While DOGE trades below key moving averages and faces $0.1495 resistance, a breakout above the wedge's trendline could push prices toward $0.27–$0.29. - Long-term projections su
Bitcoin Updates: Crypto ETPs Signal Market Growth as Leverage Shares Debuts on SIX
- Leverage Shares launched the world's first 3x leveraged and -3x inverse Bitcoin/Ethereum ETPs on SIX Swiss Exchange, expanding its crypto product range to 452 offerings. - The EUR/USD-traded ETPs target sophisticated investors seeking directional exposure, aligning with SIX's 19% YoY crypto ETP turnover growth to CHF 3.83 billion. - Market timing raises concerns as Bitcoin/Ethereum fell 21%/26% in November 2025, with experts warning leveraged products could amplify losses during volatility. - SIX's regul
Ethereum Updates Today: Buterin Moves ETH to Safeguard Privacy Against Major Financial Players and Quantum Threats
- Ethereum co-founder Vitalik Buterin donated 128 ETH ($760,000) to privacy-focused apps Session and SimpleX Chat, emphasizing decentralized metadata protection and user-friendly access. - Recent 1,009 ETH transfer to Railgun protocol sparked speculation about asset reallocation, though control remains with Buterin amid mixed Ethereum price trends. - Buterin warns of existential risks: 10.4% institutional Ether ownership and quantum computing threats by 2028, advocating layered security for Ethereum's desi

