Cryptocurrency There is a new hacking event in the industry every day. Finally at this point Ethereum scaling blockchain Era Lend, the largest lending protocol in zkSync hacked.
Blochain security company BlockSEC wrote in a post that Era Lend suffered a total loss of $3.4 million in the hack.
We are assisting @Era_Lend to this issue, and the root cause has been identified. The total loss is ~$3.4M.
Specifically, this is a read-only re-entrancy attack.
Another attack tx is:https://t.co/H4A2suVLai
Attacker address:
0xf1D076c9Be4533086f967e14EE6aFf204D5ECE7a https://t.co/InhCCW7QAy— BlockSec (@BlockSecTeam) July 25, 2023
The total amount locked in Era Lend after the hack dropped from $18.5 million to $10.75 million.
Era Lend confirmed the hacking incident in her post and used the following statements:
“We had a hacking incident on our platform today. But the threat was contained.
We have suspended all borrowing for now and recommend that you do not deposit USDC.
We are working with partners and cybersecurity companies to resolve this situation.”
Security Update: We’ve experienced a security incident on our platform today. The threat has been contained. We’ve suspended all borrowing operations for now and advise against depositing USDC. We’re working with partners and cybersecurity firms to address this.
More updates…— EraLend | The #1 Money Market on zkSync
(@Era_Lend) July 25, 2023
As it will be remembered, Conic Finance, the DeFi protocol, was hacked recently and its value is over 3.2 million dollars. 1700 Ethereum (ETH) had been stolen.
Related Content: DeFi Platform Hacked This Altcoin Drops 35 Percent! How Much Ethereum Has Been Stolen?
Source: Bitcoinsistemi.com