POPA ReconAn Avalanche Tranche Vault tied to Fence Finance and Valinor Digital lost about 1.01M USDC overnight on Oct. 28, 2026.
On-chain, tx 0x3f6b23…058c77 at 00:00:03 UTC moved 1,013,353.61 USDC from vault 0xE25C…7621a via contract 0xF09D…57805 to attacker 0x6FF1…b1246, per Arkham.
Blockaid flagged it as an ongoing exploit across about 2 txs, saying a flash loan minted inflated tranche shares then redeemed the remaining USDC. CertiK described it differently, as a scheduled accounting update reopening used draw capacity and enabling a second withdrawal against the same funding.
The Defiant reported zero USDC left in the identified contract and no confirmed pause or fix. Neither @fence_finance nor @ValinorDigital had posted a statement in their X histories as of that time.
The sources do not name the attacker or a recovery plan.