Garden Finance App Offline Amid $450,000 Exploit Across Four Blockchain Networks

Garden Finance's app went offline temporarily after security firm Blockaid reported an exploit targeting its hash time-locked contracts (HTLC) across four blockchain networks.

The attack drained about $450,000 in USDT from Garden's HTLC contracts on Ethereum, Base, Arbitrum and BNB Smart Chain. The funds were stolen using HTLCs, a type of time-bound escrow contract that facilitates atomic swaps between Bitcoin and assets on other networks.

Garden said it detected 'unusual activity' and is conducting a full investigation while its app remains offline.