Chibi Finance Incident Analysis
ID: 4c17425e-e9bd-559f-b714-6e40d96f9dfe
STIX ID: report--4c17425e-e9bd-559f-b714-6e40d96f9dfe
Feed Name: CertiK Blog
Threat Score
On 27 June 2023 Chibi Finance deployers executed an exit scam on Arbitrum by assigning the privileged gov role to a malicious contract and invoking panic() across multiple pools to drain roughly 555 ETH (~$1M). The stolen funds were swapped to WETH, bridged to Ethereum (via Multichain and Stargate) and deposited into Tornado Cash; CertiK highlights this as an example of centralization risk in DeFi and one of several similar Arbitrum incidents in 2023.
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