DeFi

<p class="is-style-lead">Fraudsters hacked the Blueberry DeFi protocol and advised users to withdraw money.</p> 
<p>The Blueberry project team shared in their post X on Feb. 23 that they had to stop work due to the <a href="https://crypto.news/tag/exploit/" target="_blank" rel="noreferrer noopener">exploit</a>.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
   https://twitter.com/blueberryFDN/status/1760859333288702412 
 </div>
</figure> 
<p>Details of the exploit are being determined. The developers advised users to withdraw funds from the platform. However, users have reported withdrawal problems through Blueberry, noting that the front-end interface needs to be fixed.</p> 
<blockquote class="wp-block-quote"> 
 <p>“We are pausing the protocol as quickly as possible.”</p> <cite>Blueberry team</cite>
</blockquote> 
<p>The Blueberry Protocol is a decentralized lending marketplace that allows leveraged lending and borrowing up to 20x the value of the collateral.</p> 
<p>Blueberry later added another update stating that all leaked funds had been transferred to c0ffeebabe.eth and were safe in Blueberry’s multi-sig except for validator payments. A total of 457 Ethereum (<a href="https://crypto.news/price/Ethereum/" target="_blank" rel="noreferrer noopener">ETH</a>) (around $1.35 million) was initially drained, but 366 ETH was rescued by the so-called “white hat” and returned to the multi-sig wallet.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">To quickly reiterate:<br>Deposited funds are currently safe. Only three markets were affected and the large majority was already returned. <br><br>Total validator payment (loss) is 91 ETH. We are getting in touch and aim for a full repayment to users as the goal. Protocol is paused. <a href="https://t.co/uaQKwS9Iik" target="_blank">https://t.co/uaQKwS9Iik</a></p>— Blueberry Protocol Foundation 🫐🫐 (@blueberryFDN) <a href="https://twitter.com/blueberryFDN/status/1760876257078899016?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">February 23, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<blockquote class="wp-block-quote"> 
 <p>“Deposited funds are currently safe. Only three markets were affected, and the large majority was already returned.”</p> <cite>Blueberry team</cite>
</blockquote> 
<p>Earlier in February, fraudsters <a href="https://crypto.news/hacker-manipulates-playdapp-minting-pla-plummets/" target="_blank" rel="noreferrer noopener">hacked</a> the PlayDapp blockchain gaming platform based on <a href="https://crypto.news/tag/Ethereum/" target="_blank" rel="noreferrer noopener">Ethereum</a>. During the attack, the attackers mined 200 million PLA coins. According to analysts, the reason was the compromise of private keys associated with PlayDapp. They noted that the hackers added a new address, resulting in 200 million PLA, or $31 million.</p> 
<p>However, the losses were then updated, and the platform <a href="https://crypto.news/playdapp-breach-hack-crypto-290-million/" target="_blank" rel="noreferrer noopener">lost</a> over $290 million, marking the largest hack since 2022. PlayDapp has paused the PLA smart contract and proposed a migration plan to shift to a new PDA token for the network.</p> 
<p> Read more: <a href="https://crypto.news/coinbase-suspends-playdapp-token-trading-in-response-to-smart-contract-security-breach/"> Coinbase suspends PlayDapp token trading in response to smart contract security breach </a> </p>

Blueberry protocol pauses lending amid $1.35m drain

crypto.news

Other articles published on Feb 23, 2024

Descending Triangle Patterns in Dogecoin: Past and Present

Exploring Promising Altcoins for Your Crypto Portfolio

Bitcoin Bounces Back from Key Support Level

Investors anxious as ‘Solana Killer’ token sees 400% uptick, challenging SOL’s market position

PEPE Coin Analysis: Heroic Entry of Bulls Broke the Downtrend

Ethereum Flashes Bearish Signals: Here’s Where It May Reach If Bulls Fail to Defend the Support

Join our free newsletter for daily crypto updates!