$355K DeFi Attack Devastates SIR.trading: Founder Pleads for Stolen Funds to Be Returned!

SIR.trading, an Ethereum-based decentralized finance (DeFi) protocol, has suffered an extreme DeFi attack- a catastrophic breach, a $355,000 total value locked (TVL) was considered to be lost forever by the SIR.trading protocol as a result of a great breach in DeFi. The exploit targeted a vulnerability in the Vault contract of the protocol, making use of Ethereum’s ephemeral storage feature from the Dencun upgrade. By manipulating a callback function, the attacker redirected funds to a specified address and transferred them through the privacy solution Railgun. Not only do the recent hacking incidents show serious lapses in the security checks of emerging blockchain technologies, but they also show that being off the radar of risk is a delusion for every DeFi protocol that seeks to innovate.

SIR.trading Suffers Devastating DeFi Attack

The total locked value of SIR.trading, a decentralized finance protocol built on Ethereum, was hacked around March 30, 2025. The worth of the hacked value was $355,000. This DeFi attack was executed on the Vault contract, targeting the uniswapV3SwapCallback function. The severe hack leveraged the new transient storage that Ethereum brought into feature edges after Dencun’s upgrade, which enabled the attacker to compromise important security data during transaction execution. 

Blockchain security firm TenArmor was quick to alert the community regarding the attack incident, pointing out the need for monitoring within the DeFi ecosystem. This incident provides further evidence of continuing security issues in decentralized finance and raises important questions regarding its preparedness to meet the promise of emerging technologies in the blockchain setting. As SIR.trading losses, it can show the way to developers and users regarding possible vulnerabilities inherent in DeFi protocols.

Ethereum Price Prediction of the Last 24 Hours

Ethereum (ETH) exhibits trading price levels of around $1,868 on the 5-minute framework, displaying activity within the key support level nearer to $1,776 and another significant resistance area approximately at the $1,854 mark. The MACD indicator shows a bearish crossover, where the MACD line is positioned below the signal line, which suggests a certain extent of selling pressure. However, recent golden crosses within this indicator hint at a reversal or weakening bearish momentum.

Chart 1, analysed by anushrivarshney2613, published on TradingView, April 1, 2025

A break above the resistance at $1,854 could open the way for further upside, while a loss of support could see the asset retest the $1,776 level. Given the recent DeFi attack on SIR.trading and its negative effects on investor sentiment, any renewed selling pressure could further bolster downside risks. However, bright developments in Ethereum’s ecosystem are expected to keep boosting Ethereum price predictions in the future. Based on the recent SIR.trading losses, any considerable breakdown below this support level could be enough to trigger stop-loss, potentially increasing downward momentum.

SIR.trading Hack Raises Questions About Ethereum’s Future

The recent DeFi attack on SIR.trading that led to the unauthorized withdrawal of customer funds of $355,000 justifies the security concerns in DeFi and the temporary storage feature of Ethereum that was recently introduced during the Dencun upgrade. According to analysts, Ethereum is expected to experience bullish price movements owing to institutional adoption and technological developments.

It is by the end of the year that the Ethereum price prediction for 2025 comes into the range of USD 5,500-6,700. The SIR.trading losses are a cautionary tale as to the riskiness in the DeFi, but it also underlines the importance of Ethereum in this whole ecosystem. The more Ethereum matures, the more its price will depend on the compromise between innovation and adhering to stringent security measures.