A cybersecurity company, Cyvers, has revealed that the DeFi protocol Hedgey Finance has fallen victim to a hack, resulting in the theft of millions of dollars in Ethereum (ETH) and Arbitrum (ARB). The attackers managed to steal approximately $1.9 million worth of funds, which were then converted into the stablecoin Dai (DAI). The stolen funds were subsequently transferred to an external address. Hedgey Finance has urged users to cancel any active claims related to the Hedgey Token Claim Contract, a feature that allows users to create token claims with controlled unlocking capabilities. The platform is currently investigating the attack and working with auditors and its team to halt any ongoing breaches. On-chain analyst Colin Wu has reported that the actual loss suffered by Hedgey Finance may be much larger, amounting to over $44 million. The official Twitter account of Hedgey Finance has issued a security alert and assured users that the situation is being thoroughly examined.