Decentralized finance (DeFi) protocols Exactly and Harbor experience separate security breaches
Two DeFi protocols, Exactly and Harbor, were targeted in separate attacks, resulting in the theft of millions of dollars worth of crypto assets. Exactly Protocol had 4323.6 ETH (worth $7.3 million) stolen, which was then moved to the Ethereum network. The attacker exploited a vulnerability in Exactly’s DebtManager periphery contract to bypass security measures and steal user assets. Harbor, on the other hand, suffered a loss of funds from its stable-mint and various vaults, including stOSMO, LUNA, and WMATIC. The exact amount of assets stolen from Harbor is currently unknown, and the protocol is working on tracking the funds and estimating the losses. These incidents are part of a series of recent attacks on DeFi platforms, highlighting the need for increased security measures.
Key points:
- Exactly Protocol had 4323.6 ETH stolen, worth $7.3 million at the time.
- The attacker exploited a vulnerability in Exactly’s DebtManager periphery contract.
- Harbor suffered a loss of funds from its stable-mint and vaults.
- The exact amount of assets stolen from Harbor is currently unknown.
- These attacks are part of a string of security incidents in the DeFi space.
Hot Take:
The recent security breaches on DeFi protocols Exactly and Harbor highlight the ongoing challenges faced by the industry in terms of securing user assets. As the value locked in DeFi continues to grow, attackers are becoming more sophisticated in their methods. It is crucial for DeFi platforms to prioritize security measures and conduct regular audits to identify and patch vulnerabilities. Additionally, users should exercise caution and conduct thorough research before depositing their assets into any DeFi protocol. Only by collectively addressing these security concerns can the DeFi ecosystem continue to thrive.
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