Cointime

Download App
iOS & Android

Hundred Finance Takes Action to Bring Hacker to Justice After $7 Million Exploit on Optimism Layer-2 Scaling Solution

Cointime Official

April 20 (Cointime) - Hundred Finance, a multi-chain lending protocol using veHND model, stated that since attacker of the recent $7 million explot has refused their offer, they are taking actions to identify and bring him to justice.

On April 16, Cointime reported hat Hundred Finance has experienced a significant security breach on the Optimism layer-2 scaling solution, resulting in an estimated loss of around $7 million. 

Hundred Finance also reminded everyone about the $500k bounty in place for information leading to the attacker's arrest and the return of all funds. Anyone with information is urged to contact them on Discord or via email.

The firm is also cooperating with several victims and engaging law enforcement in multiple jurisdictions. The protocol has onboarded security teams with expertise in these types of cases to support their efforts. Additionally, some well-connected users who have lost significant amounts of money due to the hack have started their own investigations and are requesting information from Hundred Finance.

Read full thread:

2/5 If you have any information, please contact us on Discord or by sending an email to [email protected] In cooperation with several victims, we are now contacting and engaging law enforcement in multiple jurisdictions.

3/5 Several well-connected users who have lost significant amounts of money due to the hack have started their own "investigations". They are requesting we share information we have gathered on the attacker with them.

4/5 We are in contact with and onboarding security teams with expertise in these particular cases to support our efforts. cc: @zachxbt@chainalysis@cryptogle@coffeebreak_YT@samczsun@officer_cia@hudsonjameson

5/5 Thank you to everyone who has reached out and provided valuable information to date.

Comments

All Comments

Recommended for you

  • BTC breaks through $67,000

    The market shows that BTC has broken through $67,000 and is now trading at $67,018.39, with a daily increase of 0.85%. The market is volatile, so please be prepared for risk control.

  • Decentralized AI platform Prime Intellect completes $5.5 million seed round of financing

    Decentralized AI platform Prime Intellect has announced the completion of a $5.5 million seed round of financing, led by Distributed Global and CoinFund, with Compound also participating. The funds will be used to build a computing platform that enables decentralized training across instances, and to achieve shared ownership of artificial intelligence models through contributions of computing power, code, data, capital, or expertise.

  • Crypto wallet Turnkey raises $15 million in funding, led by Galaxy Ventures

    Turnkey, a cryptocurrency wallet infrastructure company, has raised $15 million in Series A funding led by Lightspeed Faction and Galaxy Ventures, with participation from Sequoia Capital, Coinbase Ventures, Alchemy, Figment Capital, and Mirana Ventures. The project concluded in October of last year and raised $7.5 million in seed funding starting from 2022. Turnkey was co-founded by two former Coinbase employees who helped build the company's cryptocurrency exchange custody service, with the aim of helping application developers build user-friendly blockchain wallets.

  • Magpie: A vulnerability was found in the contract, and users are advised to cancel authorization as soon as possible

    Cross-chain infrastructure Magpie Protocol published an article stating that there is a vulnerability in the contract and urging users who have authorized its contract and still hold funds in their wallets to cancel the relevant contract authorization on each chain as soon as possible.

  • Messari ·

    State of Sia Q1 2024

    Sia (SC) is a decentralized cloud storage network that combines a Proof-of-Work blockchain with a contract-based storage model.

  • Messari ·

    0x Q1 2024 Brief

    0x is an integrated suite of decentralized finance (DeFi) infrastructure APIs that enables developers and teams to build financial products on crypto rails.

  • SlowMist reveals a new scam: maliciously modifying RPC node links to defraud assets

    SlowMist security team has exposed a new type of cryptocurrency scam. This scam uses the remote procedure call (RPC) function of modified Ethereum nodes to commit fraud. The specific process of the scam is as follows: the scammer induces the user to download the imToken wallet and gain the user's trust by using 1 USDT and a small amount of ETH as bait. Then, the scammer guides the user to change their ETH's RPC URL to the node controlled by the scammer. The node uses Tenderly's fork function to falsify the user's USDT balance. When the user sees the incorrect balance, they may attempt a transfer, but the scammer has already disappeared. According to SlowMist Technology's report, this type of scam exploits users' trust and negligence, resulting in asset losses. The SlowMist security team reminds users to remain vigilant when trading and avoid using untrusted RPC nodes.

  • The Future of Ethereum: Use Cases (Part 1)

    In our 4-part series named “The Value of Ether”, we have discussed in detail the framework in which we think it is most appropriate to link value accrual to ETH token holders with the underlying mechanics that operate the Ethereum blockchain. More specifically, we have laid out a case on how increased usage of the network has an impact on supply dynamics and can therefore have a knock-on effect on the value of the Ether token.

  • Philippines SEC: Remove Binance App from Google and Apple App Stores

    Philippine Securities and Exchange Commission stated that we have taken action to remove the Binance app from the Google and Apple app stores.

  • BTC falls below $66,000

    The market shows that BTC has fallen below $66,000, currently trading at $65,997.14, with a daily decline of 0.02%. The market is volatile, please be prepared for risk control.