CryptoWorld News reports that as trading activity expands in the DeFi market, Renegade Fi encountered a preventable security flaw, where an attacker exploited an unprotected initializer in the black pool proxy contract on Arbitrum to gain privileged delegatecall access.

The attacker extracted nearly 27 types of ERC-20 assets from the affected contract, including WBTC, PENDLE, LDO, CRV, RDNT, and SYNTHR, with total losses approaching $209k.
The incident reveals how deployment-level vulnerabilities in modern DeFi systems can bypass complex infrastructure.
Blockaid quickly flagged suspicious activity and, after the event, urged users to revoke permissions and pause integrations to prevent the spread of risk.