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EigenLayer, the Ethereum restaking protocol, reassured its community that its platform remains secure following a recent hack where approximately $5.7 million worth of EIGEN tokens were stolen from an investor. The team clarified that the incident was an isolated one, not due to any vulnerabilities in the protocol itself.
The issue surfaced on October 4, when EigenLayer began investigating “unapproved selling activity” linked to a specific wallet that offloaded around 1.6 million EIGEN tokens. It was later confirmed that the incident stemmed from a compromised email thread involving the investor’s token transfer, allowing the hacker to steal the tokens. The attacker then sold the stolen tokens via decentralized platforms and transferred the proceeds to centralized exchanges.
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EigenLayer quickly responded by engaging law enforcement and the affected exchanges, managing to freeze a portion of the stolen funds. The protocol emphasized that the incident was not related to any on-chain vulnerabilities or flaws in its token contracts. As the investigation continues, EigenLayer is committed to providing further updates as more information becomes available.
Despite the hack, EigenLayer’s EIGEN token has performed well since its recent unlock on October 1. Initially trading at $3.85, the token briefly hit a market cap that placed it within the top 100 cryptocurrencies, peaking at the 94th spot. As of October 5, EIGEN is trading at around $3.38, with a fully diluted valuation of $5.6 billion, placing it 99th in overall market rankings.
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