On February 23, the lending protocol Blueberry froze its platform and halted withdrawals to prevent a hacking attack.
UPDATE: The protocol has been paused. Funds currently deposited are no longer exploitable and we will update as we have more information https://t.co/otsa1WZMEj
— Blueberry Protocol Foundation ?? (@blueberryFDN) February 23, 2024
Eventually, the situation stabilized and the breach was halted. According to the developers, deposited funds are “no longer exploitable.”
User assets were transferred to the multisig wallet c0ffeebabe.eth.
Nevertheless, the attackers managed to steal 91 ETH (~$267,000). Initially, the damage was estimated at 457 ETH (~$1.34 million), but most of it was recovered.
“Only three markets were affected, and the vast majority have already been restored. The total loss amounts to 91 ETH. We are reaching out and striving for full compensation for users. The protocol remains paused,” project representatives added.
Blueberry is a decentralized lending platform based on the DeFi protocol Compound, allowing trading of digital assets with leverage up to 20x.
According to DeFi Llama, before the attack, Blueberry’s total value locked reached $4.5 million. Following the incident, it dropped to $3.08 million.
Earlier, on February 18, the cryptocurrency exchange FixedFloat was hacked for $26 million.
Previously, PeckShield calculated that the crypto industry’s losses from hacks and scams in 2023 amounted to $2.61 billion.