Ethereum

Compound

Bitcoin

when

Foundation

<div class="intro-text"> 
 Blueberry has <a style="color: #0000ff;" href="https://twitter.com/blueberryFDN/status/1760872935982879030?t=lxszQ_Ed8mf5g3FpdZJKAg&amp;s=19">temporarily halted its lending activities</a> after being hit by a cyberattack. The attack resulted in the loss of around $1.3 million worth of Ethereum (ETH), equivalent to 457.684573171942049193 ETH. The affected lending markets were Bitcoin (BTC), Olympus (OHM), and USD Coin (USDC). 
</div> 
The Blueberry Protocol Foundation confirmed the attack after <a style="color: #0000ff;" href="https://twitter.com/peckshield/status/1760855164137935082?t=iDmoXdkZwInwcz-kU5bYyw&amp;s=19">PeckShield’s alert</a> about an “apparent front-run” on the protocol. Blueberry is working with security and communications professionals to <a style="color: #0000ff;" href="https://twitter.com/blueberryFDN/status/1760876257078899016?t=kjJ2NOITooKbuEMfRsqUmA&amp;s=19">recover the remaining 91 ETH</a>. 
Blueberry has stated that the stolen funds had been front-run by c0ffeebabe.eth but are now safely secured in the Blueberry multisig. C0ffeebabe.eth was famously credited with helping to return 2,879 ETH worth approximately $5.4 million to Curve Finance after it was hacked in July 2023. 
Blueberry recently released a security overview on Feb. 22, in which it emphasized its commitment to a “security-first approach to development and risk mitigation to prevent any internal risk brought on by protocol activity”. 
The company also claimed to have undergone audits by Hacken and Sherlock. However, the subsequent hacking incident has raised doubts about the effectiveness of Blueberry’s security measures. 
Before the attack, Blueberry had a Total Value Locked (TVL) of $4.5 million. The company had forked from the Compound DeFi protocol, but following the attack, TVL fell to $3.15 million, according to data from <a style="color: #0000ff;" href="https://defillama.com/protocol/blueberry-lend">DefiLlama</a>. Users also complained about experiencing issues when withdrawing funds from the Blueberry website. 
Apparently, the app went offline, with a client-side exception error message displayed on the website. After a few minutes, Blueberry announced that it had been able to pause the protocol and bring the website back online. 
If you want to read more news articles like this, visit <a style="color: #0000ff;" href="https://defi-planet.com/">DeFi Planet</a> and follow us on <a style="color: #0000ff;" href="https://twitter.com/PlanetDefi">Twitter</a>, <a style="color: #0000ff;" href="https://www.linkedin.com/company/defi-planet/">LinkedIn</a>, <a style="color: #0000ff;" href="https://www.facebook.com/DeFi-Planet-129907662611402">Facebook</a>, <a style="color: #0000ff;" href="https://www.instagram.com/defi.planet/">Instagram</a>, and <a href="https://coinmarketcap.com/community/profile/DeFiPlanet/">CoinMarketCap Community</a>. 
“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.” 
&nbsp; 
The post <a href="https://defi-planet.com/2024/02/blueberry-halts-lending-amid-1-3m-exploit/">Blueberry Halts Lending Amid $1.3M Exploit</a> appeared first on <a href="https://defi-planet.com">DeFi Planet</a>.

Blueberry Halts Lending Amid $1.3M Exploit

DeFi Planet

Other articles published on Feb 23, 2024

Meet The Viral Cryptos – Bitcoin Minetrix and BlockDAG (BDAG) Raise Millions In Their Ongoing Pre...

Bitcoin Slides Below $51,000 as Market Awaits Next Move

Bitcoin Rebounds from Crucial $50,800 Support Level

SEC seeks comments on Bitwise, Grayscale Bitcoin ETF options

DOGE Historical Trends Hint at Major Rally

Dogecoin (DOGE) Historical Trends Show Major Rally Might Be Underway

Join our free newsletter for daily crypto updates!