Ethereum

Hope

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 The protocol, which had 526 Ether in total value locked, was emptied in an attack on Oct. 18.
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<div class="cointelegraph">
 <p>Ethereum decentralized finance (DeFi) <a rel="noopener noreferrer nofollow" title="protocol" href="https://thebittimes.com/tag/protocol.html">protocol</a> Hope Lend has next to zero assets left in its <a rel="noopener noreferrer nofollow" title="protocol" href="https://thebittimes.com/tag/protocol.html">protocol</a> after a devastating hack.</p>
 <p>According to multiple blockchain security firms, on Oct. 18, two individuals, a frontrunner who beat the original hacker after discovering the <a rel="noopener noreferrer nofollow" title="exploit" href="https://thebittimes.com/tag/exploit.html">exploit</a>, and the original hacker itself, stole a combined 526 Ether (ETH) from Hope Lend worth $825,357 at the time of publication. "The successful attacker gained 264 ETH and paid a 263 ETH bribe to an ETH validator," wrote CertiK.&nbsp;</p>
 <p>Hope.money, the DeFi <a rel="noopener noreferrer nofollow" title="protocol" href="https://thebittimes.com/tag/protocol.html">protocol</a>'s developer, presented a different version of the story. In its X thread, developers claim that a single hacker ran off with 526 Ether worth of users' funds, paying 263.91 in bribes to a validator allegedly managed by Lido Finance, eventually netting a profit of 264.08 ETH. Hope.money staff said:</p>
 <blockquote>
  "It is crucial to emphasize that all protocols deployed on //Hope.money are independent and will not impact the various other products and protocols currently live on the platform, including HopeCard、HopeSwap and $HOPE. We are committed to ensuring the protection of the affected users' rights, and the corresponding funds remain secure."
 </blockquote>
 <p>Two days prior, DeFi aggregator DeFiLlama announced it would begin tracking Hope Lend's smart contracts for data curation. At the time of publication, Hope Lend had no noticeable assets left&nbsp;within the <a rel="noopener noreferrer nofollow" title="protocol" href="https://thebittimes.com/tag/protocol.html">protocol</a>. While developers did not state the reason for the incident, on-chain sleuth Spreek claimed that the hack "seems to be related to WBTC [wrapped Bitcoin] decimals and rounding, similar to the Wise Lending hack recently."</p>
 <blockquote class="twitter-tweet">
  <p lang="en" dir="ltr">On October 18, 2023, at 11:48:59 AM +UTC, the HopeLend <a rel="noopener noreferrer nofollow" title="protocol" href="https://thebittimes.com/tag/protocol.html">protocol</a> fell victim to a hacker attack. It is important to note that the hacker did not profit from this attack.<br><br>The attack resulted in a loss of approximately 528 ETH, out of which 263.91 ETH were bribed by the frontrunner…</p>— Hope.money️ (@Hope_money_) October 18, 2023
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 <p><strong>Magazine:&nbsp;Elon Musk streams, Amazon partners with Immutable, MetalCore preview</strong></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ethereum-defi-protocol-hope-lend-drained-after-exploit-tbt66896.html">https://thebittimes.com/ethereum-defi-protocol-hope-lend-drained-after-exploit-tbt66896.html</a></p>

Ethereum DeFi protocol Hope Lend drained after exploit

TheBitTimes

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