Concentric, a liquidity management application, has suffered an attack on Arbitrum.
The protocol's official X account has reported the attacker used a "social engineering attack" to compromise the private key of the protocol's deployer account, which was then used to "update the vaults, mint new LP tokens, and subsequently drain the vaults of their assets."
As reported by blockchain security platform CertiK, so far the attacker has managed to steal a total of $1.8 million.
CertiK believes the attacker could be the same as the one who attacked decentralized exchange OKX last December 13, as the attacker's wallet is linked to the wallet that performed this exploit.