You won’t believe what happened to Jimbos Protocol on Arbitrum

Have you heard the news? Jimbos Protocol, a new DeFi project that just launched on Arbitrum, has been hacked and lost $7.5M in funds. This is a huge setback for the project and its users. I feel bad for them.

Apparently, the hacker found a bug in the smart contract that let them withdraw more funds than they deposited. The team said they are working on a post-mortem and a compensation plan, but I’m not sure if they can bounce back from this.

What do you think about this incident? Do you think Arbitrum is safe enough for DeFi projects? Do you trust Jimbos Protocol to fix the problem and repay the users? Let me know your thoughts in the comments #JimbosProtocol #Arbitrum #DeFi #Hack