Abracadabra Third Hack: $1.8 Million Loss Mitigated Through Treasury Buyback

The DeFi lending platform Abracadabra Money, known for its MIM stablecoin, has been hit by a third security breach in the past two years. This time, losses amounted to $1.8 million due to a recurring smart contract flaw. The DAO’s treasury funds were used to buy back affected tokens and maintain the MIM dollar peg. Despite this repeat incident, the protocol has a strong record of absorbing losses without affecting user funds.