The altcoin is failing to find support from the rest of the market, and to make matters worse, it will not see any support from Bitcoin either. Optimism and Bitcoin Are Not in Line Optimism’s price is seeing extended bearishness owing to the lack of support from its investors. Generally, Bitcoin acts …
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However, an assessment of the Layer 2 (L2) token’s performance on a three-day chart hinted at the possibility of a further decline in its value in the short term. Arbitrum Traders Wonder If the Time Is Right At press time, ARB’s Market Value to Realized Value (MVRV) ratio, assessed using …
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At least two DeFi projects were targeted by significant exploits in the early hours of today, resulting in millions of dollars in losses. Sonne Finance exploited Decentralized liquidity provider Sonne Finance fell victim to a $20 million exploit on its Optimism network-based USDC and Wrapped Ethereum (WETH) contracts, according to …
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Sonne Finance’s SONNE token plummeted 60% to 2.5 cents after a hack drained $20 million from the decentralized lending protocol. The exploiters used a “donation” attack to manipulate markets. The incident occurred on the Optimism blockchain version; the Base blockchain version was unaffected. The exploit happened after the protocol added …
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A series of hacks has occurred. The latest victim was Sonne Finance, a decentralised lending protocol that works on Optimism and Base. The protocol has been hacked for at least $20 million. The attack planned through a vulnerability typical of the Compound Finance forks, has created a storm in the …
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Lending protocol Sonne Finance faces $20 million exploit, pauses markets on Optimism
by Timmy Shenby Timmy Shen–> UPDATED: May 15, 2024, 1:52AM EDT Sonne Finance, a decentralized lending protocol, experienced an exploit on Wednesday morning in Asia, resulting in losses amounting to approximately $20 million. The project said in a post-mortem report that it was exploited due to a vulnerability in Compound v2 forks (Sonne is …
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Sonne Finance and BlockTower Capital Hacked: Combined Losses Exceed $20 Million
by Lynn Wangby Lynn WangBlockchain security firm Cyvers detected the attack on May 15 in the early morning of Asia. Sonne Finance’s Optimism Market Suspended Following the Incident Initially, Cyvers reported that $3 million had been stolen from Sonne’s USD Coin (USDC) and Wrapped Ethereum (WETH) contracts on its Optimism chain. However, the situation …
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Ethereum, the world’s second-largest blockchain network, persistently grappling with scalability issues due to its popularity and increased network congestion, has had the concept of Layer 2 chains in mind since 2014. As more users and decentralized applications (dApps) were released, transaction costs skyrocketed, and processing times slowed significantly. To address …
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A newly published cyber threat report from Avast has revealed substantial dominance of social engineering in cyber threats during the first quarter of 2024. Per the report, nearly 90% of cyberattacks on mobile and 87% on desktop devices involved scams, phishing, and malvertising, exploiting human vulnerabilities more than technical weaknesses. …
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Coinbase, a leading cryptocurrency exchange, is reportedly considering the relisting of Terra Luna Classic (LUNC), as per recent reports circulating on Crypto X. This development has sparked optimism within the LUNC community, with many anticipating that it could drive the price of LUNC to new highs. Community members, including notable …