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Separate Attacks Target DeFi Protocols Exactly and Harbor

DeFi Ecosystem Hit by Recent Attacks: Exactly Protocol Loses $7.3 Million, Harbor Assessing Stolen Funds

On August 18th, the DeFi ecosystem experienced a new wave of attacks.

The Exactly protocol fell victim to exploitation, resulting in a loss of approximately $7.3 million.

Simultaneously, the Harbor team is currently evaluating the extent of the funds stolen from their platform.

This series of attacks highlights the persistent security challenges faced by decentralized finance projects and reinforces the need for continued vigilance in safeguarding user funds.

DeFi Platforms Exactly and Harbor Exploited in Separate Attacks, Resulting in Significant Losses

On August 18th, blockchain security firms DeDotFi and PeckShield reported that decentralized finance (DeFi) protocols Exactly and Harbor were targeted in distinct and seemingly unrelated attacks.

On-chain data analysis indicates that the Exactly Protocol suffered a theft of 4323.6 Ether,

equivalent to nearly $7.3 million at the time.

The attackers subsequently leveraged the Across Protocol to bridge 1490 ETH and utilized Optimism Bridge to transfer 2,832.92 ETH into the Ethereum network.

These incidents underscore the ongoing vulnerability of DeFi platforms to malicious exploits and emphasize the importance of robust security measures within the ecosystem.

Security Breaches Shake DeFi Landscape: Exactly Protocol Targeted, Harbor Also Falls Victim to Attacks

Attacker Targets Exactly’s DebtManager Periphery Contract, Resulting in Losses on Optimism Network

Exactly,

a prominent crypto lender operating on the Optimism network,

fell victim to an attack that specifically targeted their DebtManager periphery contract.

Initial reports indicated a substantial loss of over 7160 ETH, equivalent to nearly $12 million.

However, subsequent revisions confirmed a smaller amount missing,

though the exact figure has not been disclosed.

This incident sheds light on the vulnerability of DeFi platforms even on layer 2 scaling solutions like Optimism.

The attacker’s focus on the DebtManager periphery contract highlights the importance of conducting thorough security audits and implementing robust measures to protect sensitive contracts within the DeFi ecosystem.

“The attacker passed in a malicious market contract address, bypassing the permit check, and executed a malicious deposit function to steal assets deposited by users. Approximately $7.3M were stolen.”

Exactly Protocol Engages with Authorities and Seeks Dialogue with Attackers for Asset Recovery

Following the attack on Exactly Protocol, the team has taken the initiative to file a police report and has expressed their intent to establish communication with the perpetrators in an effort to retrieve the stolen assets.

The protocol’s team made this statement on X (formerly Twitter),

emphasizing their commitment to recovering the funds.

In a separate security incident, Harbor, the interchain stablecoin protocol, disclosed that it had also fallen victim to an attack.

The breach resulted in the loss of funds from their stable-mint, stOSMO, LUNA, and WMATIC vaults.

The precise amount of crypto assets stolen has not been disclosed at the time of writing.

Harbor is actively involved in investigating the incident, tracing the funds, and assessing the total extent of the losses incurred.

These attacks add to a series of recent security incidents within the DeFi ecosystem.

Notably, on July 30th, vulnerabilities in three versions of the Vyper programming language led to the theft of over $61 million from stable pools on Curve Finance.

Additionally, other protocols such as Earn.Finance and Zunami Protocol suffered significant losses,

with at least $287,000 worth of ETH stolen and $2.1 million in losses incurred, respectively, due to separate exploits.

These incidents highlight the ongoing challenges faced by DeFi platforms in maintaining robust security measures and underscore the importance of constant vigilance and proactive security practices within the ecosystem.

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