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DeFi protocol Sonne Finance stole $20 million

On the morning of May 15, the decentralized lending protocol Sonne Finance became the victim of a large-scale hack.

As a result of the attack, the attackers withdrew about $20 million from Sonne.

What's happened

IN report Sonne team says that the hack was caused by a vulnerability in the Compound v2 forks. The hacker used a well-known donation attack, which is why the protocol lost such a huge amount.

In response to the incident, the developers of Sonne suspended work protocol on the second level solution (L2) Optimism. Users can perform operations on Base as usual.

Security experts PeckShield and Cyvers were among the first to notice the hack.

In PeckShield indicatedthat the attacker first withdrew $7.8 million in Ethereum (ETH) and Wrapped Bitcoin (WBTC). He subsequently exchanged WBTC for ETH and DAI.

Cyvers specialists wrotethat the total damage from the Sonne hack amounted to more than $20 million.

The developers of the DeFi protocol noted that they learned about the problem “25 minutes after the exploit.” However, they managed to prevent the theft of another $6.5 million.

The Sonne team is currently trying to identify the hacker. Representatives emphasized that they are ready to offer the attacker a reward for the return of all stolen funds.

Previously unknown people hacked the Rain crypto exchange. The incident occurred on April 29, but it became known only on May 14. As a result of the attack, hackers pulled out $14.8 million, ZachXBT noted. According to representatives of the trading platform, all client funds are safe and no one was injured.

In April, hackers were not as productive as in March. According to CertiK, last month losses of crypto projects from cybercriminals decreased by more than 140%. The total damage amounted to about $25 million. In total, since the beginning of the year, the crypto industry has so far lost about $500 million.

Source: Cryptocurrency

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