Decentralized finance protocol Garden Finance has officially shuttered its web interface following a significant security breach. Security firm Blockaid confirmed that hackers successfully siphoned approximately $450,000 in USDT from the platform's HTLC (Hashed Time-Locked Contract) vaults.
The malicious activity spanned several prominent blockchain networks. Analysts noted that the exploit targeted liquidity pools across Ethereum, Base, Arbitrum, and the BNB Smart Chain, highlighting the risks inherent in complex cross-chain infrastructure.
In response to the incident, the Garden Finance team advised users to refrain from interacting with the platform while they conduct a thorough forensic investigation. The team stated that the front-end has been disabled as a precautionary measure to prevent further unauthorized fund transfers.
Security experts urge users to remain vigilant:
- Revoke all token approvals for the affected smart contracts immediately.
- Monitor official channels for updates regarding potential recovery or compensation.
- Exercise caution when interacting with cross-chain protocols that utilize similar HTLC architectures.
