Hope Lend DeFi Platform Loses 526 ETH in Hack

A frontrunner bribed the initial hacker and they both split the proceeds.

By: Camila Russo Loading...

abstract image of computer with words hack on top of it in neon colors

Decentralized finance (DeFi) platform, Hope Lend, suffered an exploit leading to a loss of 526 ETH.

Crypto analyst Spreek identified the breach and said it may be "related to WBTC decimals and rounding," they wrote on X. Blockchain security firm SlowMist confirmed the attack.

A second hacker managed to front-run the initial attacker by bribing them 263 ETH, Spreek said. They subsequently split the proceeds evenly.

Hope Lend's Total Value Locked dropped to $0 on Wednesday from just under $1 million before the hack, according to data on DeFi Llama.

No updates have been provided yet by the project on the situation.