Is an AI hacker targeting old DeFi projects in $5M spree?

Source: CryptoNewsNet Original Title: Is an AI hacker targeting old DeFi projects in $5M spree? Original Link: https://cryptonews.net/news/security/32160032/ A trio of hacks targeting old DeFi projects have stolen approximately $5 million in the past week.

The three projects targeted were all well-known names during DeFi’s 2020-2022 cycle, and the affected contracts are all from abandoned projects, immutable, or no longer maintained.

The similarities have led some to wonder if legacy contracts are being targeted in a concentrated, AI-aided hacking campaign.

Ribbon Finance flip-flops on recovery plan

Last Friday, Aevo (formerly Ribbon Finance) informed users of an oracle-manipulation hack on “legacy Ribbon DOV vaults,” resulting in a $2.7 million loss. The post reassured Aevo users that they weren’t impacted.

In a since-deleted follow-up post, the team announced a plan to reimburse those affected using $400,000 of its own funds, as well as assets from “dormant” users.

However, the Ribbon team walked back the controversial plan a few days later, clarifying that the affected users would, in fact, suffer a 100% loss.

Defunct Rari Capital hijacked

The $2 million Rari Capital hack occurred on December 10, but was not flagged for a week.

In what appears to be a “hijacking of the implementation contract,” the attacker was able to borrow assets "without posting any collateral.