Hope Lend was breached, resulting in a 526 ETH loss
Key Points:
According to crypto analyst Spreek, this incident is not a simple theft; Hope Lend was breached, apparently due to a vulnerability related to WBTC decimals and rounding. This strategy resembles a similar approach seen in a recent Wise Lending breach.
In a surprising twist, before the initial hacker could exploit the loophole, another party known as a “generalized frontrunner” managed to outpace them and seize the stolen funds. After the successful heist, the frontrunner made an unconventional choice to share the stolen funds, offering a ‘bribe’ of 263 ETH to the original attacker.
The Ethereum addresses of both wrongdoers have been identified. The original attacker is associated with the address 0x1f23eb80f0c16758e4a55d48097c343bd20be56f, while the succeeding frontrunner goes by the address 0xa8bbb3742f299b183190a9b079f1c0db8924145b.
This news has created ripples in the crypto community, with many eagerly awaiting an official response. However, as of now, Hope Lend’s official Twitter account has remained noticeably silent, without any updates or reassurances regarding the situation.
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Champaign, Illinois, United States, 2nd July 2024, Chainwire
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