Garden Finance Exploit Drains $450K from HTLC Contracts

Garden Finance, a cross-chain bridging and atomic swap protocol, temporarily took its app offline after reporting an exploit targeting its hash time-locked contracts (HTLC) across four blockchain networks.

The incident was reported by blockchain security firm Blockaid, which stated that an attacker had drained about $450,000 in USDT from Garden's HTLC contracts on Ethereum, Base, Arbitrum, and BNB Smart Chain.

Garden Finance acknowledged 'unusual activity' and is conducting a full investigation while its app remains offline. The protocol uses HTLCs to facilitate atomic swaps between Bitcoin and assets on other networks.