{"id":176810,"date":"2023-10-19T01:15:34","date_gmt":"2023-10-18T19:45:34","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=176810"},"modified":"2023-10-19T01:15:34","modified_gmt":"2023-10-18T19:45:34","slug":"ethereum-defi-protocol-hope-lend-drained-after-exploit-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/ethereum-defi-protocol-hope-lend-drained-after-exploit-crypto-news\/","title":{"rendered":"Ethereum DeFi protocol Hope Lend drained after exploit – Crypto News"},"content":{"rendered":"
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Ethereum decentralized finance (DeFi) protocol Hope Lend has next to zero assets left in its protocol after a devastating hack.<\/p>\n

According to multiple blockchain security firms, on Oct. 18, two individuals, a frontrunner<\/a> who beat the original hacker after discovering the exploit, and the original hacker itself<\/a>, stole a combined 526 Ether (ETH<\/a>) from Hope Lend worth $825,357 at the time of publication. “The successful attacker gained 264 ETH and paid a 263 ETH bribe to an ETH validator,” wrote CertiK.\u00a0<\/p>\n

Hope.money, the DeFi protocol’s developer, presented a different version of the story. In its X thread, developers claim that a single hacker ran off with 526 Ether worth of users’ funds, paying 263.91 in bribes to a validator allegedly managed by Lido Finance, eventually netting a profit of 264.08 ETH. Hope.money staff said:<\/p>\n

“It is crucial to emphasize that all protocols deployed on http:\/\/Hope.money are independent and will not impact the various other products and protocols currently live on the platform, including HopeCard\u3001HopeSwap and $HOPE<\/a>. We are committed to ensuring the protection of the affected users’ rights, and the corresponding funds remain secure.”<\/p><\/blockquote>\n

Two days prior, DeFi aggregator DeFiLlama announced it would begin tracking Hope Lend’s smart contracts for data curation. At the time of publication, Hope Lend had no noticeable assets left<\/a>\u00a0within the protocol. While developers did not state the reason for the incident, on-chain sleuth Spreek claimed that the hack “seems to be related to WBTC [wrapped Bitcoin] decimals and rounding, similar to the Wise Lending hack recently.”<\/p>\n

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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.<\/p>\n

The attack resulted in a loss of approximately 528 ETH, out of which 263.91 ETH were bribed by the frontrunner\u2026<\/p>\n

\u2014 Hope.money\u26a1\ufe0f (@Hope_money_) October 18, 2023<\/a><\/p><\/blockquote>\n

Magazine:\u00a0Elon Musk streams, Amazon partners with Immutable, MetalCore preview<\/a><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Ethereum decentralized finance (DeFi) protocol Hope Lend has next to zero assets left in its protocol after a devastating hack. According to multiple blockchain security firms, on Oct. 18, two individuals, a frontrunner who beat the original hacker after discovering the exploit, and the original hacker itself, stole a combined 526 Ether (ETH) from Hope […]<\/p>\n","protected":false},"author":2,"featured_media":176811,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-176810","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/176810","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=176810"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/176810\/revisions"}],"predecessor-version":[{"id":176813,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/176810\/revisions\/176813"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/176811"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=176810"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=176810"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=176810"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}