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Cryptocurrency Ecosystem => DeFi tokens => Topic started by: coingabbarmarket on October 20, 2023, 01:18:33 PM
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Hope Lend Suffered a Devastating Hack on October 18
An Ethereum DeFi protocol, Hope Lend, suffered a devastating hack on Oct. 18, with two individuals stealing 526 Ether worth $825,357. The two hackers bribed ETH validator, where one hacker discovered the exploit and the other hacker executed it. The developer, Hope.money, disagreed with this, stating a single hacker made off with user funds, alleging involvement by a validator managed by Lido Finance. Other platform products remained unaffected while Hope Lend’s assets got depleted. The hack is speculated to be related to WBTC decimal issues. DefiLlama, aggregator of DeFi, had just started tracking Hope Lend's smart contracts.
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Ethereum DeFi protocol Hope Lend drained after exploit
Ethereum decentralized finance (DeFi) protocol Hope Lend has next to zero assets left in its protocol after a devastating hack.
According to multiple blockchain security firms, on Oct. 18, two individuals — a frontrunner who beat the original hacker after discovering the exploit and the original hacker themselves — stole a combined 526 Ether
ETH from Hope Lend, worth $825,357 at the time of publication. “The successful attacker gained 264 ETH and paid a 263 ETH bribe to an ETH validator,” wrote CertiK.
(https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror=redirect,quality=90,width=717/https://s3.cointelegraph.com/uploads/2023-10/1e300da3-cb71-4c91-8349-1f4b2be8487e.jpg)
More For Yourself Here https://cointelegraph.com/news/ethereum-defi-protocol-hope-lend-drained-after-exploit (https://cointelegraph.com/news/ethereum-defi-protocol-hope-lend-drained-after-exploit)
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