Arbitrum-based Jimbos Protocol hacked, losing $7.5M in Ether

Adding to the growing number of decentralized finance (DeFi) protocol hacks in the crypto industry, Jimbos Protocol is the latest to suffer an attack resulting in a significant loss of funds.

According to blockchain security firm PeckShield, Jimbos Protocol — the liquidity protocol of the Arbitrum system — was hacked on the morning of May 28. The attack resulted in the loss of 4,000 Ether (ETH), worth approximately $7.5 million at the time.

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