Overview
- Transit Finance, flagged Wednesday by security firm PeckShield, was drained of about $1.8 million in DAI stablecoins.
- PeckShield identified a single Ethereum wallet holding the stolen funds, with ChainCatcher first surfacing the alert based on its monitoring.
- Transit Finance, a cross-chain swap aggregator that routes trades across many networks, expands its attack surface through complex contract calls and bridge checks.
- Researchers say cross-chain systems are prime targets because attackers exploit smart-contract bugs, bridge logic, or wallet permissions and then launder coins through mixers like Tornado Cash or cross-chain routers.
- The project had not posted a technical explanation or recovery roadmap at publication, and the incident follows April heists at Kelp DAO and Drift as well as Transit Finance’s $28.9 million hack in October 2022.