Thursday, November 30, 2023

DeFi protocols Exactly, Harbor hacked in separate attacks

Decentralized finance (DeFi) protocols Precisely and Harbor have been exploited on Aug. 18 in two separate — and apparently unrelated — assaults, in keeping with blockchain safety companies DeDotFi and PeckShield.

On-chain information reveals 4323.6 Ether (ETH), value almost $7.3 million on the time of writing, had been stolen from Precisely Protocol. The hackers then bridged 1490 ETH utilizing the Throughout Protocol, and a couple of,832.92 ETH to the Ethereum community by way of Optimism Bridge.

Precisely is likely one of the crypto lenders on the Optimism community. Preliminary experiences talked about over 7160 ETH stolen, value almost $12 million, however have been later revised to replicate a smaller quantity lacking. The attacker focused the DebtManager periphery contract, in keeping with Precisely:

“The attacker handed in a malicious market contract handle, bypassing the allow test, and executed a malicious deposit operate to steal belongings deposited by customers. Roughly $7.3M have been stolen.”

The protocol filed a police report and is attempting to speak with the attackers to return the stolen belongings, its workforce famous on X (previously Twitter). 

In one other safety incident, the interchain stablecoin protocol Harbor disclosed being the sufferer of an assault that led to the lack of funds sitting on its stable-mint, in addition to stOSMO, LUNA and WMATIC vaults. On the time of writing, the quantity of crypto belongings stolen stays unclear. Harbor is alleged to be engaged on tracing funds and estimating the whole losses.

The assaults observe quite a lot of safety incidents throughout the DeFi ecosystem over the previous few weeks. On July 30, a vulnerability on three variations of the Vyper programming language resulted in over $61 million stolen from secure swimming pools on Curve Finance. Different protocols compromised up to now days embrace Earn.Finance, with at least $287,000 value of ETH stolen, along with $2.1 million in losses incurred by Zunami Protocol as a consequence of one other exploit.

Journal: DeFi Dad, Hall of Flame: Ethereum is ‘woefully undervalued’ but growing more powerful