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$7.4 Million Stolen from Hundred Finance DeFi Lending Protocol in Security Breach.

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Gherardo Fiorenzo
Gherardo Fiorenzo is an Italian author with a unique perspective shaped by his experiences in Italy and the US. His thought-provoking articles, short stories, and reviews explore the intersections of language, identity, and culture.

Multi-chain lending protocolHundred Finance, was hacked on Ethereum Layer 2 scaling solution, optimism, output in Loss of About $7.4 million.

Hack a hundred financing

On April 15, the DeFi platform announced She contacted the hacker and cooperated with her with Lots of security teams. the protocol also required anyone with information Obtain in touches.

this is not first Once Hundred Finance is hacked.

In 2022, a comeback attack on I used the Gnosis Hundred Finance series and Agave as tools. The two platforms at that time lost $11 million.

The famous compound Protocol Crossroads, One Hundred, has been implemented on Several blockchains.

Peckshield claims that the hacker donated 200 WBTC, a stablecoin tied b bitcoin; To increase the protocol derivative, hWBTC. This allowed the loan pools to be dried using only a small amount of hWBTC, result in losses.

Peckshield and CertiK, another blockchain security company, have backed the program results.

According to CertiK, the attacker modified the rate Where ERC-20 tokens and htokens are exchanged. The hacker triggered the exchange rate By contributing a large amount of WBTC to htoken nodes.

Later, FW took feature of that rate to borrow a large sum money In the new exchange rate Then they got back their initial investment. One hundred suffered a loss of $7.4 million due to the hack.

Meanwhile, Numen Cyber claimed To lose 1030 Ethereum (ETH) worth over $2 million.

https://twitter.com/NumenAlert/status/1647256283890761732? s = 20

hundred financing team Tell Its members earlier today to stop guessing how the attack took place. By procedure, its specialty goal is getting it in touches with Attacker and come to an understanding.

2023 DeFi Hacks

This accident adds to the installation total of Hacking damage in 2023 and serve as a reminder of Risks of Decentralized Finance (DeFi). There have been many hacks in the last After a few weeks of exploitation of Euler financing attack in He walks.

In the first Two weeks of April, vulnerabilities in DeFi protocols such as Allbridge, Sentiment, and Yearn Finance have been exploited. According to her, he lost more than $20 million due to these hacks research Conducted by DeFiLlama.

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