[ad_1]

Hundred Finance, a decentralized finance (DeFi) multi-chain lending protocol using the veHND mannequin, has skilled a big safety breach on the Optimism layer-2 scaling resolution.

The protocol, which integrates with Chainlink oracles to make sure market well being and stability, announced by way of their official Twitter account on Saturday, April 15, that that they had been hacked with losses estimated at USD 7 million.

Hundred Finance additionally noted by way of Twitter that it had despatched messages to the hackers and is in talks with completely different safety groups to higher perceive the incident.

Blockchain safety agency CertiK, which is investigating the incident, acknowledged that the scope of the hack remains unclear on the time of writing.

As this story is breaking, we are going to replace our readers with the most recent info and developments as they arrive to gentle. Keep tuned to CryptoSlate for complete protection of this unfolding state of affairs.

Replace at 21:22 GMT: In response to CertiK, the hacker focusing on Hundred Finance exploited the change price between ERC-20 tokens and htokens, enabling them to withdraw extra tokens than initially deposited. The estimated monetary harm ensuing from this assault is roughly $7.4 million.

The submit Hundred Finance hacked on Optimism, suffers $7 million loss appeared first on CryptoSlate.

[ad_2]

Source link