Abracadabra has repurchased 6.5 million US dollars of MIM and covered 50% of the losses from the hacker attack

According to official news from Abracadabra Money, its gmCauldrons product suite was hacked yesterday, resulting in a loss of approximately $13 million worth of MIM tokens. Other products were not affected. Abracadabra DAO has begun taking measures to address this incident, including using the $19 million assets in the DAO treasury to repay part of the losses. So far, it has repurchased $6.5 million MIM and covered 50% of the total loss; the remaining portion will be gradually absorbed over the next few months and is expected to be completed by mid-2025.

In the coming months, Abracadabra will focus on four main areas: Treasury Remediation Plan, Berachain Expansion, Nibiru Ecosystem Deployment and Purrswap Protocol Incubation. The treasury will continue to support MIM token stability while reducing market volatility through phased operations. The expansion of Berachain and Nibiru will introduce new Cauldrons and stablecoin trading features that drive ecosystem innovation. In addition, Purrswap protocol is about to launch as HyperEVM's first stablecoin trading platform.

Previous news reported that Shield: GMX and MIM Spell hacking losses have reached approximately $13 million.