A major exploit affecting Garden Finance has resulted in losses exceeding $5.5 million. The attack impacted multiple blockchain chains, including Bitcoin (BTC), Wrapped Bitcoin (WBTC), Wrapped Ethereum (WETH), and the SEED token, causing a significant 60% decline in SEED’s value according to ZachXBT, an on-chain investigator. The incident highlights vulnerabilities across cross-chain DeFi protocols and has led to increased scrutiny of these emerging platforms. Notably, the attack comes on the heels of Garden Finance being cited by on-chain investigator ZachXBT for allegedly ignoring victims’ requests for fee refunds, with over 25% of their activity involving stolen funds. The incident is causing a significant loss in confidence among users and has already led to heavy selling of SEED and other assets affected by the breach. Experts believe that Garden Finance and similar protocols may face increased regulatory scrutiny as well as advancements in security measures to prevent future exploits. ZachXBT also brought attention to past breaches that have led to extensive audits and reforms, and their findings offer potential lessons for enhancing security measures in the DeFi sector.