Thetanuts Finance, a decentralized options protocol, was hit by an on-chain exploit that drained $2.1 million from its smart contracts. A white-hat actor stepped in and recovered roughly $2 million of the stolen funds, according to details published by security firm Blockaid.
How the attack unfolded
Blockaid released the exploit transaction hash and the address of the exploiter, allowing the public to trace the movement of funds. The attacker appears to have manipulated the protocol's option vaults to withdraw assets beyond what was intended. Thetanuts Finance has not yet issued a public statement about the incident or its next steps.
Recovery and what's next
The white-hat recovery means the bulk of the stolen value is now in a known wallet, but it is unclear whether those funds have been returned to the protocol or are still held by the white-hat. Thetanuts Finance will likely need to coordinate with the white-hat to reclaim the assets and assess any remaining vulnerabilities. No timeline has been given for when normal operations might resume.
