Cryptocurrency [loss] $20M+

Tweet by CyversAlert

2024-05-14 [vendor] Sonne Finance [chain] ethereum
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

  1. 2024-05-14 Breach occurred
  2. 2024-05-14 Publicly disclosed