Orion Protocol, a decentralized exchange platform, was the victim of a security breach that resulted in the theft of $3 million worth of project assets.

The attacker exploited a reentrancy vulnerability in the platform’s smart contracts on Ethereum and BNB Chain.

Orion Protocol temporarily suspended its deposit function and CEO Alexey Koloskov reassured users that their funds were safe and secure, with no loss of user funds.

The vulnerability was traced back to the use of third-party software libraries in writing the smart contracts and the company plans to rely on in-house developers going forward to prevent future incidents.