The Ethereum decentralized finance (DeFi) protocol, Hope Lend, now finds itself with minimal remaining assets following a devastating hack.
On October 18, 2023, at 11:48:59 AM +UTC, the HopeLend protocol fell victim to a hacker attack. It is important to note that the hacker did not profit from this attack. The attack cost around 528 ETH, of which the frontrunner received 263.91 ETH in bribes.
On October 18, 2023, at 11:48:59 AM +UTC, the HopeLend protocol fell victim to a hacker attack. It is important to note that the hacker did not profit from this attack.
The attack resulted in a loss of approximately 528 ETH, out of which 263.91 ETH were bribed by the frontrunner…
— Hope.money⚡️ (@Hope_money_) October 18, 2023
Multiple blockchain security firms reported that on October 18, two individuals were involved in an incident. Firstly, a frontrunner discovered and exploited a vulnerability, leading to the theft of 264 Ether (ETH).
Secondly, the original hacker was also responsible for stealing 263 ETH from Hope Lend. This combined theft amounted to approximately $825,357 at the time of publication. CertiK noted that the successful attacker even offered a bribe of 263 ETH to an ETH validator.
Hacker Scandal Hits Hope. Money DeFi Protocol
In the X thread of Hope. Money, the developer of a DeFi protocol, presented an alternative version of the story. According to developers, a lone hacker managed to abscond with 526 Ether worth of users’ funds by allegedly bribing a validator associated with Lido Finance.
In the end, the hacker made a profit of 264.08 ETH after paying a total bribe amount of 263.91 ETH. The staff members at Hope. Money has stated the following:
The protocols implemented on http://Hope.money are independent, ensuring they do not impact other products and protocols currently live on the platform. These include HopeCard, HopeSwap, and $HOPE. Our priority is to safeguard the rights of affected users while ensuring the security of corresponding funds.
DeFi aggregator DeFiLlama made an announcement stating that it would start monitoring Hope Lend’s smart contracts for data curation two days prior. As of now, there are no remaining assets in the protocol of Hope Lend.
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Although developers did not provide a clear explanation for this incident, on-chain investigator Spreek suggested that the hack seems to be connected to WBTC (wrapped Bitcoin) decimals and rounding, resembling the recent Wise Lending hack.