A cybersecurity firm, Cyvers, has reported that the DeFi protocol Hedgey Finance has fallen victim to hackers who made off with millions of dollars in Ethereum (ETH) and Arbitrum (ARB). The attackers converted the stolen funds to the stablecoin Dai (DAI), resulting in a loss of approximately $1.9 million. The breach occurred through Hedgey Token Claim Contract, which allows users to create token claims and control when the claimed tokens are unlocked. Hedgey Finance has urged users to cancel any active claims related to the contract. However, according to on-chain analyst Colin Wu, who referenced Cyvers’ now-deleted post, the actual loss suffered by Hedgey is much larger, amounting to over $44 million. The attack affected both the Arbitrum and Ethereum blockchains. Hedgey Finance is currently investigating the breach.