Hassan Maishera
TL;DR
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Exactly and Harbor have become the latest DeFi protocols to suffer exploits.
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The two protocols lost millions of dollars to the attackers over the weekend.
Exactly Losses Over $7 Million In An Exploit
The DeFi ecosystem suffered a fresh round of attacks over the weekend, with millions lost to the attackers.
Exactly Protocol lost roughly $7.3 million in an attack on August 18th, while the amount lost by Harbor is still being estimated by the team.
The attacks on the two DeFi protocols were separate and unrelated, according to the report by blockchain security firms DeDotFi and PeckShield.
On-chain data showed that a total of 4,323.6 Ether, worth nearly $7.3 million, was stolen from Exactly Protocol. According to the report, the attacker(s) stole the funds by bridging 1,490 ETH using the Across Protocol and 2,832.92 ETH to the Ethereum network via Optimism Bridge.
Exactly is a crypto lending platform on the Optimism network. Initial reports indicated that around 7,160 ETH ($12 million) was stolen from the protocol but was later revised to $7.3 million.
The Exactly team explained that the hacker targeted the DebtManager periphery contract. The team stated that;
“The attacker passed in a malicious market contract address, bypassing the permit check, and executed a malicious deposit function to steal assets deposited by users. Approximately $7.3M were stolen.“
Exactly said they have filed a police report and are trying to get in touch with the attackers to return the stolen assets.
Stablecoin Protocol Harbor Also Suffered An Exploit
In a separate attack, the interchain stablecoin protocol Harbor revealed over the weekend that it was the victim of a hack, leading to the loss of funds sitting on its stable-mint, as well as stOSMO, LUNA and WMATIC vaults.
However, the team said they are still estimating the total amount of crypto assets stolen during the attack. Harbor added that they are currently working on tracing the stolen funds.
The DeFi ecosystem has suffered numerous hacks since the start of the year. A recent report by blockchain security firm PeckShield revealed that nearly $500 million was stolen from DeFi protocols in the first half of 2023.
In July, Curve Finance suffered a hack that resulted in a loss of over $61 million. The hack was due to a vulnerability in three versions of the Vyper programming language.
