Wasabi Protocol: Exploited for $5M+

Wasabi Protocol just got hit with a major exploit, draining over $5M across chains like Ethereum, Base, Berachain, and Blast, as flagged by PeckShieldAlert. This breach underscores persistent DeFi exploit risks in multi-chain protocol hacks, potentially rattling investor confidence amid ongoing crypto security breaches.

Digging into history, Wasabi Protocol's multi-chain DeFi operations have faced scrutiny before, with past incidents echoing vulnerabilities in storage and access models—think unrestricted data pulls without egress fees, now weaponized in cross-chain exploits. This latest attack aligns with a string of breaches over the last 6-12 months, where protocols like this one expose flaws in intelligent media handling across ecosystems.

On the ETH 4h chart, price clings to $2264.32 in a bearish setup, hugging the EMA200 support at $2252.96 while the EMA50 looms overhead at $2305.16 as firm resistance. MACD screams bearish with a death cross at -16.45, and RSI at 43.12 stays neutral, but volatility squeezes inside Bollinger Bands—upper resistance at $2339.66 caps upside, pointing to exhaustion. Confluence here suggests a probe lower toward band support at $2234.02 before any rebound, especially if this exploit spooks broader sentiment; I'd watch for a quick flush if Bitcoin (BTC) follows suit in this hype-driven market.