Prominent DeFi Protocols Exactly and Harbor Attacked In Separate Hacks
Two Decentralized Finance (DeFi) platforms, Exactly and Harbor, experienced separate attacks, as reported by blockchain security firms DeDotFi and PeckShield.
Exactly, a credit market operating on the Optimism network lost roughly $7.3 million equivalent to 4,326.6 Ether (ETH). The attackers skillfully diverted the funds by leveraging the Across Protocol to seize 1,490 ETH, and the Optimism Bridge, allowing the extraction of 2,832.92 ETH, ultimately transferring the ill-gotten assets to the Ethereum network.
In a separate unfortunate event, interchain stablecoin protocol Harbor also fell victim to a hacking incident revealing the compromise of its stable-mint and the vaults holding stOSMO, LUNA, and WMATIC. Although the exact amount of the theft remains uncertain, Harbor is actively looking into the situation and properly evaluating the extent of the damage incurred
The breaches that opened up within Exactly’s DebtManager periphery contract and Harbor’s protocol have illuminated the undeniable security challenges that loom over the DeFi ecosystem. In Exactly’s case, the hackers ingeniously manipulated a malicious market contract address to sidestep permit checks, executing a malevolent deposit function.
Regrettably, these incidents are just pieces of a larger tapestry of security breaches that have spread the DeFi landscape. Last July, over $61 million from stable pools on Curve Finance were stolen due to a vulnerability in the Vyper programming language.
Other protocols, such as Earn Finance and Zunami Protocol, also fell victim accentuating the inherent complexities and risks intertwined with the ever-evolving DeFi ecosystem.
To conclude, the recent hacking incidents should prompt DeFi platforms to enhance security measures. With DeFi’s expansion and importance, the industry must proactively address vulnerabilities, reinforcing security to protect funds and prevent future attacks.
ABOUT THE AUTHOR
See More
Sidebar rates
Add 3442
Related Posts
Save
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals