#lending

The Exactly Protocol has suffered a hacking attack. Running on the Optimism blockchain, this lending DeFi platform was targeted by malefactors who stole over 4300 ETH, totaling approximately $7.3 million. Both BlockSec and Beosin security agencies have corroborated the theft. The hackers reportedly found and exploited a weak point in the platform's smart contracts, although the finer details are still under wraps. UPD: The team at Exactly Protocol would declare a $700,000 reward for any leads on the hacker, should they not receive a response from the malefactor by the end of August 22nd. "You can return the funds, minus a 10% fee to you, without worries about us coming after you," the Exactly team conveyed in their message.

The purpose of this program is to impose restrictions on certain cryptocurrency-related activities and create a more level playing field for banks involved in serving the digital asset industry. It which aims to ensure consistency in crypto-related regulations for all banks under Federal Reserve supervision. The activities that fall under the purview include custody, lending, trading, issuance, and distribution of crypto, including stablecoins.

EraLend, a cryptocurrency lending protocol, was victimized by a re-entrancy attack, leading to substantial losses of $3.4 million. The project's team confirmed via Twitter that the threat has been contained, and all loan transactions have been halted. As a precautionary measure, it's currently recommended to avoid making USDC deposits.

A team member, involved with the experimental Bonkler collection, misappropriated $1 million from the company's commission proceeds. However, the collection's primary assets, including the main contract and NFTs, remained unaffected. Bonkler’s daily minting process is currently suspended but will be reinstated after transitioning to its V2, which will feature lending and treasury functionalities. Per Remilia's co-founder, the breach was orchestrated by a developer in collaboration with two other team members. These individuals not only misappropriated the funds but also tried to blackmail the rest of the team by gaining access to certain social platforms. These employees have since been dismissed, and the company is gearing up to press legal charges against them.