Stablecoin event
Abracadabra GM Cauldrons attack mints undercollateralized MIM
Abracadabra reported an attack affecting GM cauldrons that minted approximately 13.4 million undercollateralized MIM. Borrowing was disabled across the affected cauldrons and the protocol stated that user collateral was not affected.
ImpactCritical
Detail kindOther
Sources1
Magic Internet Money
Open the stablecoin record connected to this event.
Abracadabra Money
View the issuer, protocol, or organization connected to this event.
All events
Browse the complete stablecoin event history.
| Date | 2025-03-25 |
|---|---|
| Event type | Protocol Exploit |
| Event detail kind | Other |
| Stablecoin subjects | Magic Internet Money |
| Organization subjects | Abracadabra Money |
| Impact | Critical |
| Effect on stablecoin status | Active with Security Incident Context |
| Recovery / reversal | Not applicable / unresolved |
| Recovery date | — |
| Cause or mechanism | cauldron_integration_and_state_validation_exploit |
| Record confidence | High |
| Source | Publisher | Type | Evidence scope |
|---|---|---|---|
| Post Mortem - attack on GM Cauldrons 25/03/25 | Abracadabra Money | Protocol Postmortem | Mim Gm Cauldron Exploit and Response |
Suggest a correction
Report an incorrect date, outcome, description, or source, or suggest a missing event.