Ethereum decentralized finance protocol (DeFi) Hope Lend is left with almost zero assets in its protocol after a devastating hack.
According to multiple blockchain security companies, on October 18, two individuals, a frontrunner who defeated the original hacker after discovering the exploit, and the original hacker himself, stole a combined 526 Ether (ETH) from Hope Lend worth $825,357 at the time of the hack. publication. “The successful attacker earned 264 ETH and paid 263 ETH bribes to an ETH validator,” CertiK wrote.
Hope.money, the developer of the DeFi protocol, presented a different version of the story. In the Hope.money staff said:
“It is critical to emphasize that all protocols deployed on http://Hope.money are independent and will not impact the various other products and protocols currently available on the platform, including HopeCard, HopeSwap and $HOPE. We are committed to ensuring the rights of affected users are protected, and associated funds remain safe.”
Two days earlier, DeFi aggregator DeFiLlama announced that it would follow Hope Lend’s smart contracts for data management. At the time of publication, Hope Lend no longer had any noticeable assets within the protocol. Although developers did not specify the reason for the incident, investigator Spreek on the chain claimed that the hack “appears to be related to WBTC [wrapped Bitcoin] decimals and rounding, similar to the Wise Lending hack recently.”
On October 18, 2023, at 11:48:59 AM + UTC, the HopeLend protocol fell victim to a hacker attack. It is important to note that the hacker did not benefit from this attack.
The attack resulted in a loss of approximately 528 ETH, of which 263.91 ETH was bribed by the leader…
— Hope.money⚡️ (@Hope_money_) October 18, 2023
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