Arbitrum-based DeFi platform Rodeo Finance has been hacked.
It is stated that the attackers stole $ 1.5 million worth of Ethereum.
The attack was spotted by blockchain security firm PeckShield.
The attackers lost track of their stolen 810 Ethereum by sending them from the Arbitrum network to the Ethereum network and from there to Tornado Cash.
After the news of the attack, Rodeo Finance's price fell by 60%.
Recently, there has been a significant increase in hacks on DeFi platforms. PeckShield also recently reported that there was another $452k hack on Libertify on both Polygon and Ethereum networks.