Hackers Drain Ethereum DeFi Protocol
Ethereum decentralized finance (DeFi) protocol Hope Lend has suffered a devastating hack, leaving the platform with almost no assets. According to blockchain security firms, two individuals, including the original hacker and a frontrunner who discovered the exploit, stole a combined 526 Ether (ETH) from Hope Lend, worth $825,357 at the time of the incident. The successful attacker gained 264 ETH and paid a 263 ETH bribe to an ETH validator. Hope.money, the developer of the DeFi protocol, presented a different version of events, claiming that a single hacker ran off with users' funds.
Hope.money's Response
Hope.money, the developer of Hope Lend, emphasized that the hack does not impact other products and protocols on the platform, including HopeCard and HopeSwap. They assured users that the affected funds remain secure and that they are committed to protecting users' rights.
Potential Reasons for the Hack
The reason behind the hack was not explicitly stated by the developers. However, some experts speculate that it may be related to decimals and rounding issues with wrapped Bitcoin (WBTC), similar to a recent hack on Wise Lending.
Losses and Response
Hope Lend lost approximately 528 ETH in the attack, with a portion of it being bribed by the frontrunner. The protocol had no noticeable assets left within it at the time of publication. The incident occurred on October 18, 2023, and the hacker did not profit from the attack.
Industry News
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