OP
by BSCN
August 18, 2023
While the hack details are yet to be disclosed, the protocol's TVL has plummeted to $26 million.
SUMMARY
Layer 2 Optimistic Rollup network Optimism has witnessed another security breach as Exactly Protocol, a DeFi platform offering interest rate markets, fell victim to an attack.
Security firms such as Hacken and BlockSec uncovered the exploit, resulting in a staggering loss of approximately 4300 ether, equivalent to $7.3 million.
The hack leveraged a vulnerability in Exactly Protocol's smart contract, leading to significant losses.
While specific details of the exploit are yet to be known, the incident led to a sharp decline in the protocol's Total Value Locked (TVL). Initially holding over $36 million, the TVL plummeted to under $26 million, according to data from DeFi Llama.
Disclaimer
Disclaimer: The views expressed in this article do not necessarily represent the views of BSCN. The information provided in this article is for educational and entertainment purposes only and should not be construed as investment advice, or advice of any kind. BSCN assumes no responsibility for any investment decisions made based on the information provided in this article. If you believe that the article should be amended, please reach out to the BSCN team by emailing [email protected].
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