- Abstract Chain users reported wallet drains, with some claiming losses over $100,000 in ETH.
- The issue was traced to Cardex, an on-chain fantasy game, while the Abstract Global Wallet remained unaffected.
- Abstract Chain, backed by Peter Thiel’s Founders Fund, now faces its first major security crisis just weeks after launch.
Chaos erupted in the Abstract Chain community on Feb. 18, as users flooded Discord with alarming reports of drained wallets. Some claimed losses exceeding $100,000 in ETH, demanding immediate refunds. Frustration boiled over when the Abstract team failed to respond quickly, leaving users in panic mode.
Abstract Team: Issue Isolated to Cardex, Not the Global Wallet
Once the team finally addressed the situation, they assured users the problem wasn’t chain-wide. Instead, Cardex—an on-chain fantasy game—was singled out as the root cause.
- 0xBeans (Abstract team member) stated: The Abstract Global Wallet is unaffected; the breach came from Cardex mishandling wallet credentials.
- Users accused Cardex of a rug pull, sparking further chaos in the project’s Telegram group.
- Players were warned to stop interacting with Cardex and withdraw assets until further notice.
Abstract Chain: Backed by Big Money, but Facing Big Problems
Abstract Chain, a layer-2 network launched by Pudgy Penguins’ parent company Igloo Inc., is no small project.
- Built using ZKsync’s developer toolkit
- Secured $11 million in funding from Peter Thiel’s Founders Fund
- Launched Cardex last week as a blockchain-based trading card game
Now, though? A major security incident just days after launch could shake confidence in the network.
What’s Next?
The Abstract team has promised updates as their investigation continues, but for now, users remain on edge. Will Cardex recover, or is this the end for the game? More importantly, can Abstract bounce back from its first major crisis?
