Wasabi Protocol Hacked for $2.9 Million After Suspected Deployer Wallet Compromise

Wasabi Protocol is a DeFi leveraged-trading protocol deployed on Ethereum and Base that offers perpetual contracts and trading in long-tail assets. Its deployer wallet held sole administrative control without multisignature or timelock safeguards to distribute risk, allowing anyone with the private key to rewrite its contracts. The setup highlights the single-point-of-failure risk in protocol governance.

On April 30, 2026, blockchain security firm Blockaid detected an attacker using Wasabi Protocol's deployer wallet to obtain ADMIN_ROLE and upgrade several vault and LongPool contracts to malicious versions. Preliminary estimates put the amount stolen and dispersed across multiple addresses at about $2.9 million. Other reports estimated losses at $4.5 million, pending official confirmation.