EraLend hit by $3.4 million attack
EraLend, the largest lending protocol on Ethereum scaling blockchain zkSync, has suffered a $3.4 million read-only reentrancy attack, according to CertiK. The attack resulted in a loss of $7.75 million in locked capital. EraLend has contained the threat and suspended all borrowing operations while advising against depositing USDC. They are working with partners and cybersecurity firms to address the issue. This incident follows a similar attack on Conic Finance, which resulted in a loss of $3.6 million.
Key Points:
- EraLend, a lending protocol on Ethereum scaling blockchain zkSync, has been hit by a $3.4 million read-only reentrancy attack.
- The attack led to a loss of $7.75 million in locked capital.
- All borrowing operations have been suspended, and users are advised against depositing USDC.
- EraLend is working with partners and cybersecurity firms to address the security incident.
- This attack follows a similar incident on Conic Finance, resulting in a loss of $3.6 million.
Hot Take:
The attack on EraLend highlights the ongoing security risks in the DeFi space. As the popularity of decentralized finance grows, it becomes increasingly important for platforms to prioritize security measures. Users must exercise caution and conduct thorough research before participating in DeFi protocols. While incidents like these can be concerning, they also serve as reminders for the industry to enhance its security practices and build more resilient systems.
By
By
By
By
By