PANews reported on March 26 that according to official news from Abracadabra Money, its gmCauldrons product suite was hacked yesterday, causing the protocol to lose approximately $13 million in MIM tokens. Other products were not affected. Abracadabra DAO has begun taking measures to deal with the incident, including using $19 million in assets from the DAO treasury to repay part of the losses. It has repurchased $6.5 million in MIM and covered 50% of the total losses. The remainder will be gradually absorbed in the coming months and is expected to be completed by mid-2025.
In the coming months, Abracadabra will focus on four major directions: Treasury Remediation Plan, Berachain Expansion, Nibiru Ecosystem Deployment, and Purrswap Protocol Incubation. The Treasury will continue to support the stability of the MIM token while reducing market volatility through phased operations. Berachain and Nibiru expansion will introduce new Cauldrons and stablecoin trading functions to promote ecological innovation. In addition, the Purrswap protocol is about to be launched and will become the first stablecoin trading platform on HyperEVM.
