The recently launched Abstract blockchain aimed to make decentralized applications more accessible. However, it now faces backlash from users who have discovered their crypto wallets emptied. What went wrong?

Crypto Wallets Drained on Abstract

It's a tough day for Abstract, the layer 2 solution from Igloo Inc., the company behind the popular NFT collection Pudgy Penguins. Numerous users of this blockchain have reported that their crypto wallets were suddenly emptied, despite not visiting any malicious sites or granting unauthorized permissions.

0xBeans, the developer of Abstract, took to X early in the afternoon to inform the community that the project's teams were aware of the issue. They assured users that the problem was not related to Abstract Global Wallet (AGW), the blockchain's wallet. 0xBeans suggested that the vulnerability likely originated from Cardex, an app for creating and trading collectible cards.

🔒 Protecting Your Cryptocurrencies

About two hours later, 0xCygaar, a contributor to Abstract and a prominent figure in the ecosystem, confirmed this:

0xCygaar stated that the issue stemmed from Cardex, which had mishandled its private keys. 0xBeans corroborated this in another tweet. Neither Cardex nor its founder has issued any statements regarding the situation, leading affected users to suspect a scam.

Several individuals have pointed fingers at the Abstract Chain team because Cardex was featured in the blockchain's "Spotlight" category.

In response, 0xCygaar clarified, "All smart contracts of the applications on the portal have been audited by a top-tier company." However, they acknowledged, "The problem wasn't with the contracts themselves, but we could have done better by ensuring their operational security was verified."

If you have interacted with Cardex or other lesser-known applications on Abstract, it is advisable to revoke the permissions granted to them using Revoke.

A detailed post-mortem report is expected soon, according to various project members. This report is eagerly awaited, as many users claim their wallets were emptied without ever interacting with Cardex, with some losing significant amounts.

The big questions remain: Should the Abstract Chain team be held accountable? Will users be compensated? Or is this a complete scam orchestrated by Cardex? Only time will tell.

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