Hacker drains about $7 million from DeFi protocol Hundred Finance

The lending protocol Hundred Finance was subjected to a hacker attack targeting pools on the L2 solution Optimism network. The developers estimated the damage at around $7 million.

It looks that Hundred got hacked on #Optimism. We will update when there is more information to it.

— Hundred Finance (@HundredFinance) April 15, 2023

According to PeckShield, an unknown actor manipulated the price of the hWBTC token to drain the lending pool:

“The main reason is that the attacker sacrificed 200 WBTC to pump the exchange rate of hWBTC, so that even a tiny amount (2 Wei) could drain the current lending pools.”

The project team said they had contacted the hacker and were engaging with cybersecurity firms. According to the developers, they aim to reach an agreement with the attacker.

Further details about the incident were promised later.

Earlier, in March 2022, unknown attacked the Agave and Hundred Finance protocols. The total loss amounted to $11 million.