cryptocoin.com As we reported, DeFi attacks have increased considerably since 2022 and finally, the hack attack on this cryptocurrency platform has many investors worried! With the attack, the operations on the platform were stopped! So what’s next? Here are the details…
Cryptocurrency lending protocol FilDA hacked thousands of dollars
FilDA Finance, one of the popular DeFi platforms of the cryptocurrency market, stopped its operations on the Elastos Smart Chain (ESC) and REI Network after an attack on the platform. According to the transferred data, 700,000 dollars worth of crypto assets were stolen in the hack attack on Sunday, April 23.
In a public statement by crypto lending platform FilDA, it was stated that the exploit resulted in a loss of approximately $700,000, while the team also disclosed critical details that “the vulnerability was detected and the attack vector was isolated.”
FilDA, ESC and Rei said that the FilDA platforms were stopped while the investigation on the subject continues. The DeFi project added that it had been monitoring the hacker’s activities, and initial investigations showed that the attacker’s address interacted with multiple crypto exchanges. According to the official Telegram group, the attack affected all digital assets on FilDA’s ESC Chain, including the Elastos coin, Bitcoin and BUSD. According to the data, FilDA assets other than those in the Elastos Smart Chain (ESC) and REI Network were unaffected.
According to its monthly report for February, FilDA’s total deposits and loans stand at $21.3 million. The project also has 145,574 current addresses on the network. This latest attack is not the first time that FilDA’s ESC Chain has been exploited. As you may recall, in April 2022, the project lost about $2 million due to a flash credit attack. With this attack, the company launched a remediation plan for users affected by the attack on the crypto startup. It is not yet clear whether the company will adopt a similar plan for the latest FilDA attack.
There was no big drop in FilDA price!
The cryptocurrency market has been facing attacks against the DeFi space for a long time. Although investors seem worried, especially with the many DeFi attacks that have taken place since 2022, the local coin FILDA did not lose a great value in the last FilDA attack. Instantly, the project is trading at $0.00168060 with a 2% depreciation. The level before the attack was trading at $ 0.00176. When we look at the market value, we can see the level of 300 thousand dollars instantly.
This incident further highlights the risks of DeFi and adds to the growing tally of losses from hacks in 2023. As you may recall, earlier this month, SushiSwap suffered more than $3 million in damage in a single attack. Meanwhile, various DeFi protocols, including Allbridge, Sentiment, and Yearn Finance, have been exploited for more than $20 million between them.
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