In brief β‘
Hack Drains Nearly All Assets from DeFi Protocol Hope Lend, Leaving It with Only $825,357 in Losses.
Hacks and Scamsβ οΈ
HopeLend
Amount of Loss: Β ~ $835k
Analysis
Ethereum DeFi protocol Hope Lend suffered a severe hack, resulting in the loss of almost all its assets.
On October 18, two individuals, including the original hacker and a frontrunner, stole a total of 526 Ether (ETH) from Hope Lend, valued at $825,357 at the time.
The successful attacker acquired 264 ETH and paid a 263 ETH bribe to an Ethereum validator, as reported by CertiK.
Hope.money, the developer of the DeFi protocol, presented a different perspective, claiming that a single hacker took 526 ETH worth of users' funds, paying 263.91 ETH in bribes to a validator associated with Lido Finance.
DeFi aggregator DefiLlama had recently started tracking Hope Lend's smart contracts for data curation, but at the time of the incident, Hope Lend had virtually no assets left within its protocol.
The hack may have been related to issues with WBTC (wrapped Bitcoin) decimals and rounding, similar to a previous Wise Lending hack. Hope.money assured users that other products and protocols on the platform, such as HopeCard and HopeSwap, were independent and unaffected.
Explore the Depths of Knowledge: Research Papers, Blogs and Tweetsπ
Tweets
GitHub Repos
ArticlesΒ
Thereβs a new way to flip bits in DRAM, and it works against the latest defenses
Β EtherHiding: Hackers create novel way to hide malicious code in blockchainsΒ
Web3 Community Spotlightπ¦
Note - all the respective links has been embedded in the image
Check out our latest AMA withΒ
Jeffery Scholz - Founder of Rareskills
Mudit Gupta - CISO of PolygonΒ
Dr. Lei Wu - Co-founder of Blocksec
Thanks for reading HashingBits! Share a summary of our newsletter on your social media platforms, tag us, and use the #AwareToEarn hashtag, and you could win 10 USDT as a reward! Help us build a safer Web3 ecosystem and have a chance to earn rewards and support our work.