- April 22, 2023
- Posted by: [email protected]
- Category:
Hundred Finance, a multi-chain lending protocol known for its integration with Chainlink’s distributed oracles, recently experienced a significant exploit. In a tweet on April 15, the protocol disclosed that it had fallen victim to a hack on the Ethereum layer-2 blockchain, Optimism, resulting in a loss of approximately $7 million. The tweet acknowledged the breach, stating, “It looks like Hundred got hacked on #Optimism. We will update when there is more information about it.”
Further insights into the attack were provided by CertiK, a renowned blockchain security firm. CertiK took to Twitter to share details, revealing that the hacker was able to exploit the exchange rate between Ethereum ERC-20 and hTOKENS (interest-bearing, tokenized representations of user deposits), ultimately making off with approximately $7.4 million in digital assets.
In a proactive approach, Hundred Finance has also been actively seeking to establish a dialogue with the hacker in a bid to recover the stolen funds. A member of the Hundred Finance team revealed in a chatroom on the protocol’s Discord server that the hacker has yet to communicate with the team. However, the team remains steadfast in their efforts, diligently working on all possible scenarios to mitigate the impact of the breach.
Amidst the aftermath of the hack, the protocol has specifically reached out to users in the United States, particularly those in the state of New York, who were impacted by the attack, urging them to contact Hundred Finance via Twitter or Discord. The situation continues to evolve, and the protocol’s team is actively taking steps to address the incident, providing updates and support to affected users as they work towards recovering the stolen funds and ensuring the security of their platform going forward.
Hundred Finance’s recent hack on the Optimism blockchain marks another setback for the protocol, coming just over a year after a previous security breach on the Gnosis chain, which operates on the Ethereum network. This latest hack serves as a reminder of the ongoing challenges and risks associated with the rapidly evolving crypto ecosystem and the importance of robust security measures to safeguard user funds.
