{"id":302143,"date":"2024-05-15T06:42:27","date_gmt":"2024-05-15T01:12:27","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=302143"},"modified":"2024-05-15T06:42:27","modified_gmt":"2024-05-15T01:12:27","slug":"sonne-finance-suffers-20-million-exploit-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/sonne-finance-suffers-20-million-exploit-crypto-news\/","title":{"rendered":"Sonne Finance Suffers $20 Million Exploit – Crypto News"},"content":{"rendered":"

<\/p>\n

The Optimism-based lending protocol has paused operations.\n<\/p>\n

\n

Sonne Finance, a DeFi money market based on Optimism, the second-largest Ethereum Layer 2 (L2) network, has been exploited to the tune of $20 million.<\/p>\n

A fork of Compound V2, Sonne held just over $60 million in total value locked (TVL) prior to the exploit, according to DeFiLlama<\/a>.<\/p>\n

The Sonne team has paused the protocol pending an investigation, asserting that lending markets on Base, the L2 developed by Coinbase.<\/p>\n

<\/figure>\n

While the cause of the exploit is yet to be officially determined, some are speculating<\/a> that it could be related to a recently added lending market.<\/p>\n

The protocol\u2019s SONNE token plummeted 15% in the wake of the exploit. It has a market capitalization of $5.5 million.<\/p>\n

<\/p>\n

\"SONNE
SONNE Price<\/figcaption><\/figure>\n

<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

The Optimism-based lending protocol has paused operations. Sonne Finance, a DeFi money market based on Optimism, the second-largest Ethereum Layer 2 (L2) network, has been exploited to the tune of $20 million. A fork of Compound V2, Sonne held just over $60 million in total value locked (TVL) prior to the exploit, according to DeFiLlama. […]<\/p>\n","protected":false},"author":2,"featured_media":302153,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[274,273,272,244,266,271,268,270,269,267],"class_list":["post-302143","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-de-fi","tag-crypto-finance","tag-decentralized-finance","tag-liquidity","tag-metamask","tag-pancake","tag-slippage","tag-sushiswap","tag-tronlink","tag-trust-wallet","tag-uniswap"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/302143","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=302143"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/302143\/revisions"}],"predecessor-version":[{"id":302160,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/302143\/revisions\/302160"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/302153"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=302143"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=302143"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=302143"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}