DeFi Protocols Exactly and Harbor Hacked in Separate Attacks

Two decentralized finance (DeFi) protocols, Exactly and Harbor, were recently targeted in separate attacks, resulting in the loss of funds. Blockchain security firms DeDotFi and PeckShield reported on these incidents, which occurred on August 18. The attacks appear to be unrelated, but both protocols suffered significant breaches.

Exactly Protocol Attack

The Exactly Protocol attack resulted in the theft of 4323.6 Ether (ETH), equivalent to nearly $7.3 million at the time. The hackers used the Across Protocol to bridge 1490 ETH and transferred 2,832.92 ETH to the Ethereum network via the Optimism Bridge.

Initial reports indicated a larger sum stolen, with over 7160 ETH (around $12 million) mentioned. However, the figures were revised, reflecting the accurate amount of missing funds. The attacker exploited a vulnerability in the DebtManager periphery contract, bypassing the permit check and executing a malicious deposit function to steal users’ assets. The Exactly Protocol team has filed a police report and is attempting to communicate with the attackers to recover the stolen assets.

Harbor Protocol Attack

The Harbor Protocol, an interchain stablecoin protocol, also experienced a security breach. The attackers targeted the stable-mint, stOSMO, LUNA, and WMATIC vaults within the protocol, resulting in the loss of funds. At present, the exact amount of crypto assets stolen remains unclear. Harbor is actively working on tracing the funds and estimating the total losses.

These attacks follow a series of recent security incidents within the DeFi ecosystem. Earlier in July, a vulnerability in the Vyper programming language enabled hackers to steal over $61 million from stable pools on Curve Finance. Other protocols, such as Earn.Finance and Zunami Protocol, have also encountered breaches, leading to significant losses.

It is crucial for DeFi protocols to implement robust security measures and conduct regular audits to protect users’ funds. These incidents underscore the importance of maintaining vigilance and addressing vulnerabilities promptly.

Editor’s Note:

DeFi protocols have revolutionized the crypto landscape by offering decentralized financial services without intermediaries. However, recent hacking incidents demonstrate the importance of thorough security protocols to safeguard users’ funds. As the DeFi ecosystem continues to grow, it is imperative for developers and users to prioritize security. Stay informed about the latest developments in the crypto space by visiting Uber Crypto News.

You might also like

Comments are closed, but trackbacks and pingbacks are open.