Two decentralized finance (DeFi) systems, Exactly and Harbor, were hacked on August 18, according to blockchain security firms DeDotFi and PeckShield.
Protocol suffered an attack that resulted in the theft of 4,323.6 Ether (ETH), valued at nearly $7.3 million at the time of the breach. The attackers then proceeded to move 1,490 ETH via the Across Protocol and 2,832.92 ETH through the Ethereum network via Optimism Bridge.
Exactly Protocol operates as a crypto lender on the Optimism network. The initial reports indicated a more substantial loss of approximately 7,160 ETH (about $12 million). However, the figure was later adjusted. The breach targeted the DebtManager contract by exploiting a malicious market contract address, bypassing permit checks, and executing a damaging deposit function. To address the situation, the protocol filed a police report and intends to establish communication with the attackers to potentially retrieve the stolen assets.
Harbor’s Losses and Ongoing Investigation
In a separate security incident, the interchain stablecoin protocol Harbor suffered a breach. This attack resulted in losses from its stable-mint and various vaults, which held stOSMO, LUNA, and WMATIC. The exact extent of the stolen funds remains undisclosed, but Harbor is actively working to track the funds and assess the overall losses.
These recent incidents are not isolated cases in the DeFi space. Previous vulnerabilities in DeFi platforms include a flaw in the Vyper programming language that led to a theft of over $61 million from Curve Finance’s stablecoin pools. Additionally, platforms such as Earn.Finance and Zunami Protocol experienced losses totaling at least $287,000 and $2.1 million, respectively. These incidents underscore the ongoing security challenges that the DeFi industry faces and emphasize the need for continuous vigilance and security enhancements in the rapidly evolving cryptocurrency landscape.
