$1.7M Stablecoin Exploit Rocks Notional Finance

Notional Finance has reportedly suffered a suspected $1.7 million exploit involving an escrow contract, according to blockchain investigators who reported on September 4.

The investigation found that approximately $69,242 in DAI and $1.66 million in USDC left the escrow contract linked to Notional. The suspected attacker exchanged the stablecoins for 689.2 ETH before depositing funds into Tornado Cash.

No technical cause or official response is available from Notional Finance, which had not publicly confirmed the incident when checked. Researchers identified two Ethereum addresses allegedly connected to the movement of the assets, but they remain unconfirmed by Notional, law enforcement, or a court.