Ethereum DeFi protocol Hope Lend drained after exploit

Ethereum decentralized finance (DeFi) protocol Hope Lend has almost zero assets in its protocol after suffering a devastating hack.

According to multiple blockchain security companies, on October 18, two individuals, one front runner Who defeated the original hacker after discovering the vulnerability, and the original hacker itself, stole a total of 526 ether coins (ETH) from Hope Lend, worth $825,357 at press time. CertiK wrote: “The successful attacker obtained 264 ETH and paid a 263 ETH bribe to the ETH validator.”

DeFi protocol developer Hope.money tells a different version of this story. In its X thread, the developer claimed that a hacker stole user funds worth 526 Ethereum, bribed a validator allegedly managed by Lido Finance 263.91 Ethereum, and ultimately made a profit of 264.08 Ethereum. Hope.money staff said:

“It is important to emphasize that all protocols deployed are independent and will not affect the various other products and protocols currently present on the platform, including HopeCard, HopeSwap and $hope. We are committed to ensuring that the rights of affected users are protected and corresponding funds remain safe. “

Two days ago, DeFi aggregator DeFiLlama announced that it would start tracking Hope Lend’s smart contracts for data management.As of the time of publication, Hope Lend has no significant assets left within the scope of the agreement. While the developer did not specify the cause of the incident, on-chain detective Spreek claimed that the hack “appears to be related to WBTC (Wrapped Bitcoin) decimals and rounding, similar to the recent Wise Lending hack.”

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