Attack on DeFi platform: $ 25 million Bitcoin and Ether stolen

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The decentralized finance protocol dForce is reported to have lost 99 percent of its assets after an attack on Sunday morning.

Decentralized finance (DeFi) protocol Lendf.Me, the lending platform within the dForce ecosystem, noticed that Ether and Bitcoin worth $ 25 million out of wallets after the money market pool was attacked on Sunday morning.

While the news was not available, Lendf.Me’s website could not be accessed, but it was confirmed in the statement made by the team that the attack took place at block number 9899681 at Beijing time today, at 8.45 (TSI 03.45). DeFi Pulse data shows that the total locked value in the dForce ecosystem has decreased to $ 6 in the past 24 hours. However, the amount in the system was $ 24.9 million the day before.

Making a statement on the subject on dForce’s Telegram channel, dForce founder Mindao Yang said they were investigating the issue and urged users not to send any assets to Lendf.Me for now.

The cause of the attack is alleged to be the one-to-one supported Ethereum token, imBTC.

Compound accused Lendf.Me of stealing his code
On the other hand, another lending protocol Compound accused Lendf.Me of stealing his code. Compound CEO Robert Leshner said the company made copy-paste the Compound v1 without changing it. Speaking to CoinDesk, Leshner stated that the v1 code was not defective, but he was cautious about what assets the group listed. Stating that imBTC has an ERC-777 token and no normal Ethereum asset, Leshner said, “This is a complementary attack on the imBTC Uniswap attack that took place yesterday. Attention should be paid to smart contracts containing imBTC and additional code should be written to protect against re-entry attacks. ” said.

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Launched last September, Lendf.Me was the seventh largest DeFi market.


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