The attacker donated 200 WBTC and drained Hundred Finance's lending pools.
Last Saturday, there was a cyberattack on Hundred Finance's multi-network lending protocol. According to the analytical platform PeckShield, the DeFi protocol suffered a loss of $7 million.
“The main reason is that the attacker donated 200 WBTC to inflate the hWBTC exchange rate, so even a tiny amount (2 Wei) can empty the current lending pools,” explained the platform on Twitter*.
Hundred Finance confirmed the attack through their social media accounts. Judging by the entry, the problem originated on the side of her Optimism Layer 2 scaling solution.
After the announcement of the attack, the Hundred Finance team sent the hacker an offer to go to the world, and also announced negotiations with teams of data protection specialists.
The Hundred Finance protocol is a decentralized financial platform powered by the Binance Smart Chain blockchain for creating and running cryptocurrency lending pools. A lending pool is an investment vehicle that allows users to earn interest on their cryptocurrencies by lending them to other users. Hundred Finance provides automatic interest rate distribution and manages risk through risk management algorithms. The protocol also supports the tokenization of borrowed assets and allows users to earn by trading these tokens on an internal decentralized exchange.