8 hours Ago By Alisa Davidson
To improve your local-language experience, sometimes we employ an auto-translation plugin. Please note auto-translation may not be accurate, so read article for precise information. In Brief Filament Finance reported a targeted exploit resulting in unauthorized fund withdrawals linked to price manipulation within its order book.
Decentralized exchange (DEX) for on-chain derivatives on the Sei Network, reported a targeted exploit resulting in unauthorized fund withdrawals linked to price manipulation within its order book. According to the platform, the exploit occurred between April 6, 12:00 AM and 4:00 AM UTC. The attackers reportedly used coordinated strategies involving large order placements and self-liquidation mechanisms across multiple accounts.
Prior to the incident, user deposits totaled approximately $680,000, with an estimated $572,000 lost as a result of the exploit. In response, Filament Finance has taken immediate security measures: trading and withdrawals have been temporarily suspended to prevent further losses. The platform is actively investigating the incident in collaboration with law enforcement and experienced blockchain forensic firms.
The platform has reported that the attacker’s movements have been traced, with stolen funds routed through the Symbiosis Bridge and primarily into the exchange. Wallet addresses and related transaction data have been compiled and shared with relevant authorities and security partners to assist in the asset recovery process. The Filament team has also reached out to major decentralized finance (DeFi) and ecosystem partners to support coordinated recovery efforts.
Currently, the project’s website is undergoing maintenance and remains temporarily inaccessible. As part of its response to the recent exploit, the platform has also announced a public offer to the attacker—a 10% white-hat bounty—in exchange for the voluntary return of 90% of the compromised funds. This proposal is conditional upon full cooperation and the complete return of assets.
Filament Finance has expressed a willingness to engage in constructive dialogue, aiming to resolve the matter without further escalation. However, it emphasized that this is a time-sensitive opportunity intended to encourage a responsible resolution and avoid potential legal consequences. 1/2 On April 6, 2025 at 12:00 AM UTC, Filament Finance experienced a targeted exploit involving unauthorized fund withdrawals through price manipulation on our order book.
The coordinated attack leveraged large order placements and self-liquidation mechanisms across multiple...
Filament Finance operates as a decentralized perpetual exchange on the Sei Network, developed to optimize the trading experience for both individual traders and liquidity providers. Through the use of a hybrid model that combines off-chain order books with on-chain liquidity pools, the platform seeks to solve persistent issues such as insufficient liquidity in niche markets and inefficient capital usage. This approach allows Filament to offer trading performance comparable to that of centralized platforms, even in lower liquidity environments.
In September 2024, the project secured $1.1 million in seed funding from several backers, including Lingfeng Innovation Fund, Halo Capital, and Spyre Group. In line with the , please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice.
It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance. Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3.
With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance..
