Cryptocurrency
[loss] $20M+
Tweet by CyversAlert
Primary Source ↗Financial Loss
$20.0M
(20,000,000 USD)
Blockchain(s)
Ethereum
Incident Details
The Sonne Finance lending protocol was exploited for at least $20 million as an attacker was able to exploit a vulnerability in some of their smart contracts. Sonne is a fork of the Compound Finance project, which has known vulnerabilities that are sometimes not properly addressed by people who reuse the code — as has happened with Radiant Capital and Rari.After being alerted to the theft by several security companies, Sonne announced they had paused the contract on the Optimism Ethereum layer-2 chain.
Total loss estimated at $20,000,000.
Technical Details
- Initial Attack Vector
- Smart contract exploit / hack
- Vendor / Product
- Sonne Finance
Timeline
- 2024-05-14 Breach occurred
- 2024-05-14 Publicly disclosed