The world of cryptocurrency has witnessed another hack attack, adding to the list of incidents. A stablecoin protocol named Seneca became the victim of a destructive hacking incident. During the attack, funds exceeding 6 million dollars were stolen from the protocol’s networks on both Ethereum (ETH) and Arbitrum (ARB). The hack attack that struck the Stablecoin protocol Seneca originated from a flaw in the smart contract approval mechanism, which malicious actors exploited to withdraw funds worth over 6 million dollars from the protocol. It is estimated that the attack resulted in the theft of funds equivalent to over 1900 ETH from the protocol.