Hack Details and Impact 

Abracadabra Money has now been attacked for the third time in the past two years. In 2024 and 2025, it lost $6.49 million and $13 million, respectively. According to blockchain researchers @officer_cia and Weilin William Li, the attacker exploited a vulnerability in Abracadabra’s smart contracts. Around $1.7 million in MIM tokens was withdrawn and swapped for ~395 ETH. 

• All affected smart contracts have been paused. 
• The attacker bypassed payment controls to quickly transfer the funds. 
• Abracadabra team has not yet released an official statement. 

Market Reaction and Precautions 

Abracadabra Money previously lost $13 million in a March 2025 hack. The recent attack has increased community calls for stress tests and comprehensive smart contract audits. 

According to CoinMarketCap, Magic Internet Money (MIM) saw a 16.98% drop in trading volume. The 60-day price decline reached 40.26%, while the 90-day increase recorded 19.83%. This underscores the sensitivity of investor confidence. 

The incident reignites discussions on security measures in the DeFi sector. Experts emphasize that proactive security testing and rigorous smart contract audits are critical. 

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