Orange Finance, a prominent liquidity management protocol on the Arbitrum network, has suffered a significant security breach, resulting in losses exceeding $840,000.
On January 8, 2025, Orange Finance alerted users via social media about the hack, urging them to refrain from engaging with the platform. The team reported that an unauthorized individual gained control of the admin address, upgraded the contracts, and absconded with funds.
The Orange Finance team stated, “A hacker has taken over the admin address, upgraded the contracts, and transferred funds to their wallet,” emphasizing that the contract is no longer under the control of Orange Finance. They are currently investigating the incident to determine the exact nature of the breach.
In a subsequent communication, the team disclosed that they reached out to the hacker through an on-chain message, requesting a response within 24 hours and offering assurances that no law enforcement agencies would be involved, framing the matter as a potential white-hat hack.
Blockchain analytics experts have reported that the hacker has already converted the stolen funds into Ethereum (ETH). As a precaution, users are advised to revoke all contract approvals related to Orange Finance to ensure their safety.
Before the attack, Orange Finance was recognized as the largest liquidity manager on Arbitrum, boasting over $1.5 million in total value locked, according to data from industry sources.
