Wasabi Protocol

2024-06-18

Wasabi Protocol raises $3 million seed round led by Electric Capital, with participation from Alliance, Memeland, and several prominent crypto investors and influencers.

2026-04-30

Wasabi Protocol suffers a multi-chain admin key compromise exploit. Attacker uses compromised wasabideployer.eth key to grant ADMIN_ROLE to a malicious contract and execute UUPS upgrades on core contracts across Ethereum, Base, Berachain, and Blast, draining over $5 million.

2026-04-30

BlockSec Phalcon system alerts on $5.15M in abnormal Wasabi Protocol fund movements, reporting that preliminary traces link Tornado Cash-funded accounts to the ADMIN_ROLE grants used in the attack.

2026-04-30

CoinDesk reports the exploit as an apparent admin key compromise, estimating $4.5 million drained. The Block puts the figure at over $5 million based on multi-chain totals from security firms.

2026-04-30

ZachXBT publicly criticizes Wasabi Protocol's single-EOA admin architecture and alleges project funds were spent on influencer marketing (including KOL Kook) rather than security infrastructure.

2026-05-01

Halborn publishes a technical post-mortem confirming root cause as private key security failure and governance design, not exploitable smart contract code. Attacker address 0x02228b0afcdbEdf8180D96Fc181Da3AF5DD1d1ab identified.