Ethereum DeFi protocol Hope Lend drained after exploit

Ethereum decentralized finance (DeFi) protocol Hope Lend has subsequent to zero belongings left in its protocol after a devastating hack.

In response to a number of blockchain safety companies, on Oct. 18, two people, a frontrunner who beat the unique hacker after discovering the exploit, and the unique hacker itself, stole a mixed 526 Ether (ETH) from Hope Lend price $825,357 on the time of publication. “The profitable attacker gained 264 ETH and paid a 263 ETH bribe to an ETH validator,” wrote CertiK.

Hope.cash, the DeFi protocol’s developer, offered a unique model of the story. In its X thread, builders declare {that a} single hacker ran off with 526 Ether price of customers’ funds, paying 263.91 in bribes to a validator allegedly managed by Lido Finance, ultimately netting a revenue of 264.08 ETH. Hope.cash workers mentioned:

“It’s essential to emphasise that every one protocols deployed on http://Hope.cash are unbiased and won’t affect the varied different merchandise and protocols at present dwell on the platform, together with HopeCard、HopeSwap and $HOPE. We’re dedicated to making sure the safety of the affected customers’ rights, and the corresponding funds stay safe.”

Two days prior, DeFi aggregator DeFiLlama introduced it will start monitoring Hope Lend’s sensible contracts for information curation. On the time of publication, Hope Lend had no noticeable belongings left inside the protocol. Whereas builders didn’t state the rationale for the incident, on-chain sleuth Spreek claimed that the hack “appears to be associated to WBTC [wrapped Bitcoin] decimals and rounding, much like the Smart Lending hack not too long ago.”

On October 18, 2023, at 11:48:59 AM +UTC, the HopeLend protocol fell sufferer to a hacker assault. It is very important observe that the hacker didn’t revenue from this assault.

The assault resulted in a lack of roughly 528 ETH, out of which 263.91 ETH had been bribed by the frontrunner…

— Hope.cash⚡️ (@Hope_money_) October 18, 2023