DeFi protocols Exactly and Harbor hit by separate hacking attacks

Exploits on Exactly and Harbor

Two decentralized finance (DeFi) protocols, Exactly and Harbor, were targeted in separate hacking attacks on August 18, as reported by blockchain security firms DeDotFi and PeckShield. The attacks appear to be unrelated.

Exactly Protocol hack

The hackers managed to steal 4323.6 Ether (ETH), equivalent to almost $7.3 million, from Exactly Protocol. They then transferred 1490 ETH using the Across Protocol and 2,832.92 ETH to the Ethereum network via Optimism Bridge.

Update: After further investigation, it has been determined that a total of approximately $7.2 million (4323.6 ETH) was stolen in the Exactly Protocol hack. The hackers also transferred around 1490 ETH using the Across Protocol and 2,832.92 ETH to Ethereum via Optimism Bridge.

DebtManager periphery contract

The attacker specifically targeted the DebtManager periphery contract, enabling them to bypass the permit check and execute a deposit function to steal users' assets. Approximately $7.3 million was stolen in this attack, according to Exactly.

The protocol has filed a police report and is attempting to communicate with the attackers in order to recover the stolen assets.

Harbor attack

Harbor, an interchain stablecoin protocol, has also fallen victim to an attack. The exact amount of crypto assets stolen from its stable-mint, stOSMO, LUNA, and WMATIC vaults has not been confirmed at this time.

The Harbor team is currently working on tracking the funds and assessing the total losses incurred in the attack.

Increasing security incidents

These attacks follow a series of security incidents in the DeFi ecosystem in recent weeks. In one instance, a vulnerability in the Vyper programming language resulted in over $61 million being stolen from stable pools on Curve Finance. Other protocols that have been compromised include Earn.Finance, which lost at least $287,000 worth of ETH, and Zunami Protocol, which incurred losses of $2.1 million due to another exploit.

Ethereum's undervalued potential

In other news, DeFi Dad, a prominent figure in the cryptocurrency community, believes that Ethereum is "woefully undervalued" despite its growing power and influence.