Premia Labs, the developer of the Kyan derivatives exchange, lost 131 ETH, equivalent to $464,000, in an attack targeting its vaults.
According to security firms Blockaid and PeckShield, the attacker used fake trading pools to exploit liquidity, then transferred assets from Arbitrum to Ethereum and through cross-chain swap platforms.
How was Premia Labs attacked?
The attacker manipulated Premia Labs’ vaults and used a flash loan through fake trading pools to induce the company to release liquidity worth more than 100 ETH, according to Blockaid’s analysis.
PeckShield said the stolen assets were later moved from Arbitrum to Ethereum, then swapped and withdrawn through NEAR Intents and Chainflip.
Premia Labs Loss Value 131 ETH, equivalent to $464,000 Liquidity Released More than 100 ETH
Source: Arbiscan/PeckShield
Cross-chain swaps complicate tracing
NEAR Intents and Chainflip are cross-chain transaction coordination platforms that can limit the ability to trace, block, or freeze stolen assets.
Methods for concealing fund flows have also appeared in other attacks. The Binance attacker used Aave and Uniswap to swap 365 million USDT for ETH, then moved the funds to THORChain and other platforms. Assets from the Bitget attack and the Ledger supply-chain exploit were also moved into Zcash privacy pools.
The US FBI has called on DeFi operators to help freeze stolen assets as they pass through their systems. According to security experts, this call could also lead to increased scrutiny and legal consequences for operators.
Chainalysis reports automated fund dispersion method
Chainalysis said investigators have observed previously unseen money laundering methods involving assets stolen in the Binance attack.
The TraiderTraitor group, identified as having links to North Korea, automatically split the funds among new addresses, repeatedly moved them through multiple other addresses, and sent them to DeFi swap platforms. This dispersal method can make it difficult to track fund flows on-chain.
Our investigators are observing previously unseen money laundering methods involving funds stolen in the Binance attack.
– Chainalysis
Source: Chainalysis
Losses from crypto attacks
Total losses from recorded crypto attacks reached a record $8.73 billion for the year. Other victims in October included Polymarket, PredictFun, and CoinDCX.
Groups linked to North Korea are believed to have accounted for nearly 90% of attacks in 2026, compared with 15% in 2021.
Metric Total crypto losses from attacks $8.73 billion Share of attacks linked to North Korean groups in 2026 Nearly 90% Corresponding share in 2021 15%
Source: Chainalysis
Summary
Premia Labs lost 131 ETH after its vaults were manipulated; the stolen assets were later moved through several platforms. The incident highlights the challenges of tracking and stopping fund flows through DeFi protocols and cross-chain services.
Source: https://tintucbitcoin.com/premia-labs-mat-464-000-usd-dau-vet-qua-near-intents-va-chainflip/
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