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Multichain Lending Protocol Hundred Finance Suffers $7.4M Flash Loan Attack on Optimism Blockchain
Hundred Finance, a multichain lending protocol, has suffered a security breach on the Ethereum layer-2 blockchain Optimism, resulting in a loss of $7.4 million. The protocol announced the exploit on April 15 and stated it was working with security teams and had contacted the hacker.
Repeat Attack on Hundred Finance and Previous Security Breach on Gnosis Chain
This is not the first time Hundred Finance has been targeted by attackers. Almost a year ago, the protocol was exposed to another exploit on the Gnosis Chain, where the hacker drained all of the protocol's liquidity through a reentrancy attack and stole over $6 million. In the same exploit, funds were also stolen from the Agave protocol.
Flash Loan Attacks Highlight Need for Robust DeFi Security Measures
Hundred Finance is expected to release a postmortem report on the recent incident to provide further details on the attack and its impact. In the meantime, the DeFi community continues to face ongoing challenges in securing protocols and protecting user funds from malicious actors.