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Sonne Finance Tapped for $20 Million, Offers Hackers Reward for Return of Funds
The Sonne Finance Landing Protocol team announced that the project was hacked for $20 million.
Sonne Finance note that the work of the portal on the Optimism The network was suspended during the investigation. The attacker stole almost $20 million worth of crypto assets, including WETH, VELO, soVELO, and USDC.e. The hacker exploited a vulnerability in the second version of the Compound platform.
Compound allows users to attack markets with a non-zero collateral ratio. Sonne Finance developers added markets with VELO, but due to a two-day blockage, the team needed help to fix the weak point, which the exploiter ultimately took advantage of.
Sonne Finance has indicated that it is ready to reward the hacker and promises not to investigate the matter further if the attacker returns the funds.
“We are prepared to grant bonuses to exploiters and not commit to pursuing the case in the event of restitution of funds. We are sincerely sorry for the situation, we are doing everything in our power and we are in contact with anyone who can help us recover the funds.
The Sonne Finance team
However, according to Peck Shield According to experts, the exploiter has already withdrawn $7.8 million to a new address.
Two days ago, on-chain researcher ZachXBT reported a possible hack of Rain, a Middle East-based cryptocurrency exchange, for $14.8 million. According to him, on April 29, suspicious withdrawals of Bitcoin (BTC), Ethereum (ETH), Solana (GROUND), and undulation (XRP) occurred from exchange wallets.
Last month, the entire value of cryptocurrency compromised in hacks fell 67% in April to $60.2 million, marking a notable decline in the number of crypto attacks and the first significant decline in 2024.
The 67% drop represents a sharp drop from the $187.6 million lost to hacks in March, which pales in comparison to the $360.8 million in digital assets stolen in February, according to a report from network security company Peckshield.