Abracadabra (MIM) has suffered a significant exploit, resulting in a loss of $1.8 million. The breach occurred due to a vulnerability in a contract that was reportedly deprecated by the project. This incident highlights issues in the project's contract management, as funds were extracted from a contract that was supposed to be inactive. The exploit was facilitated by a critical oversight in the contract's code, where a key variable was unexpectedly overwritten, allowing the attacker to manipulate conditions and execute the exploit. This oversight points to a fundamental flaw in the code review process, as such a basic vulnerability went undetected.