Hundred Finance, a multi-chain lending protocol, has lost approximately $7 million after a hack on the Ethereum layer-2 blockchain Optimism. The protocol team said it was preparing a post-mortem on how the attack took place and was advising people not to speculate until it provides clarity via an official statement.
Additionally, Hundred Finance said it’s trying to establish a dialogue with the hacker in hopes of recovering some or all of the stolen funds. On Sunday, the protocol asked users impacted by the attack and based in the U.S., specifically the state of New York, to contact Hundred Finance on either Twitter or the messaging app Discord.
The hacker was able to walk away with $7.4 million worth of digital assets after manipulating the exchange rate between Ethereum ERC-20 and hTOKENS. The attack also involved wrapped Bitcoin, an Ethereum-based token that’s backed 1:1 by Bitcoin. The attacker was able to withdraw more tokens than they had deposited to Hundred Finance.
The hack sustained by Hundred Finance on Optimism comes just over a year after the protocol was hacked on Gnosis chain, a blockchain project that runs on top of the Ethereum network.
That incident caused Hundred Finance to temporarily pause its markets across chains. The blockchain security firm CertiK broke down the attack on Twitter and explained that the hacker donated a large amount of wrapped Bitcoin to the smart contract on Hundred Finance that determined the exchange rate between wrapped Bitcoin and Hundred Finance Wrapped Bitcoin (hwBTC).
