Hundred Finance, a decentralized finance (DeFi) multi-chain lending protocol using the veHND model, has experienced a significant security breach in Optimism’s Layer 2 scaling solution.
The protocol, which integrates with Chainlink’s oracles to ensure the health and stability of the market, Announced through their official Twitter account on Saturday, April 15, that they had been hacked with estimated losses of USD 7 million.
Hundred Finance too noted via Twitter that he had sent messages to the hackers and is in talks with different security teams to better understand the incident.
Blockchain security firm CertiK, which is investigating the incident, stated that the scope of the hack it’s not clear yet at the time of writing.
As this story publishes, we will update our readers with the latest information and developments as they come to light. Stay tuned to CryptoSlate for full coverage of this developing situation.
Update 21:22 GMT: According to CertiK, the hacker targeting Hundred Finance exploited the exchange rate between ERC-20 tokens and htokens, allowing them to withdraw more tokens than initially deposited. The estimated financial damage resulting from this attack is approximately $7.4 million.
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