Steadefi lost more than $1.14 million on August 7, 2023 after the wallet that deployed and owned its vaults was compromised. The attacker took ownership of the vaults, granted broad borrowing access, exhausted lending capacity on Arbitrum and Avalanche, and converted stolen USDC, USDT, BTC.b, wBTC, wETH, ARB, and AVAX into about 624 ETH. The ETH was bridged to Ethereum, where the source said the funds had not yet moved from the attacker address.