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Recent cyberattacks have disrupted the digital finance landscape, with Exactly and Harbor, two prominent decentralized finance platforms, facing breaches on August 18. This information comes from renowned blockchain security agencies, DeDotFi and PeckShield.
A closer examination of the blockchain data points to a loss of 4323.6 Ether (ETH) from Exactly Protocol, a significant amount with a valuation of about $7.3 million during the incident. A discrepancy was noted in the initial estimated losses, with early figures suggesting a theft of about 7160 ETH, equivalent to roughly $12 million. This figure was later updated to represent the actual ETH pilfered. The malefactors managed to transfer 1490 ETH using the Across Protocol, and the remaining 2,832.92 ETH was funneled through the Ethereum network with the assistance of Optimism Bridge, a platform on which Exactly operates as a cryptocurrency lender.
In an official statement, Exactly detailed the breach, highlighting that the cyberattacker exploited the DebtManager contract. The criminal manipulated a market contract address, circumventing essential security measures, and launched a malevolent deposit command, which resulted in user asset thefts. The stolen amount was confirmed to be in the ballpark of $7.3 million. In response, Exactly has filed an official complaint with law enforcement and is engaging in efforts to negotiate with the culprits to recover the misappropriated funds. The updates were shared on the X platform.
On a parallel note, Harbor, a protocol specializing in interchain stablecoin, also faced a breach. Attackers targeted its stable-mint and other vaults like stOSMO, LUNA, and WMATIC. While the exact financial implications are yet to be ascertained, Harbor's team is rigorously working to track the pilfered crypto assets and assess the total damages.
These incidents come in a series of recent breaches plaguing the decentralized finance community. For instance, on July 30, a fault in the Vyper programming language versions facilitated the theft of an astounding $61 million from Curve Finance's stable pools. Further, in recent times, platforms like Earn.Finance and Zunami Protocol also faced security lapses, leading to combined losses of over $2.387 million in cryptocurrency.
