Crypto platform Zoth, specializing in real-world asset (RWA) restaking, has become the latest victim of a cyberattack. A staggering $8.4 million in staked USD0++ was siphoned from the platform after hackers exploited a vulnerability in its proxy contract.

The alarm was first raised earlier today by X user @0xtroll, who flagged the suspicious activity. Blockchain security analysts at Cyvers then confirmed that an attacker, operating from a flagged address, had successfully manipulated Zoth’s “USD0PPSubVaultUpgradeable” contract.

Having gained unauthorized access, the hacker rapidly withdrew $8.45 million worth of USD0++. These funds were then converted into DAI, and subsequently swapped again into ether (ETH). A substantial sum of 4,223 ETH, currently valued at $8.29 million, remains in the attacker’s wallet.

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Adding to the developing picture, cybersecurity firm SlowMist suggests a possible leak of Zoth’s administrative privileges. This potential lapse in security could have enabled the attacker to gain control and maliciously alter the logic contract.

This latest incident marks the second time Zoth has been targeted this month. Earlier in March, the platform suffered a $285,000 hack resulting from the exploitation of a Uniswap V3 liquidity pool.

Zoth has announced they are actively investigating the security breach and are working towards a resolution. The platform, which enables the conversion of Real World Assets (RWAs) into collateralized debt positions and ZeUSD tokens, promises to release a comprehensive report detailing the incident.

When reached for comment, Zoth provided Protos with the following statement:

“Our team is actively investigating the situation alongside our security partners. While we understand the concern, we want to assure you that we are taking every necessary measure to mitigate the impact and resolve the issue.

“We believe in transparency and will be sharing an official statement once we have concrete findings.”

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