According to an official statement from the project development team, Mozaic Finance was hacked by attackers on March 15th on the Abitrum network. The research group stated that the attackers sent all the stolen money to the centralized cryptocurrency exchange MEXC and “trusted” that the funds would be returned.
Mozaic Finance is a decentralized finance protocol that optimizes profitability on various blockchain networks. It claims to utilize artificial intelligence (AI) programs to maximize returns for investors.
CertiK posted on X warning that the attack had occurred. CertiK stated that the attacker withdrew funds by calling the “bridgeViaLifi” contract, which can only be called by the developer’s wallet. Therefore, “the root cause of this incident appears to be a breach of private keys,” concluded CertiK.
Blockchain data shows an account ending in 50eb made this function call at 6:08 AM UTC, resulting in 27 different token transfers, each transferring hundreds of thousands of dollars in stablecoin from this account to other accounts, with some tokens ending up in the account that made the call. CertiK claimed that the total damage amounted to over $2 million.
