Ethereum DeFi platform Zoth has suffered a significant security breach resulting in the loss of $8.85 million. The hack, which is the second incident affecting the platform in just a month, is believed to have resulted from a leak of a private key. On the morning of March 21, an upgrade to a Zoth proxy contract was executed by a suspicious address, which enabled the attacker to transfer substantial funds into their own wallet. Security experts noted that the attacker may have gained access to the private key linked to the proxy contract, allowing them to alter its implementation contract address. This vulnerability underscores the risks in decentralized finance (DeFi) and the need for robust security measures. The cybersecurity firm analyzing the situation suggested that implementing real-time monitoring systems could have potentially prevented the attack. Zoth had already experienced a previous incident earlier in the month, which resulted in a $285,000 loss due to an exploit in a liquidity pool. The platform is currently investigating and exploring ways to mitigate the impact of these breaches.

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