Hackers withdrew $11 million from Hundred Finance and Agave protocols

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The attackers used an instant loan service to steal the funds

Hackers withdrew $11 million from Hundred Finance and Agave protocols

17.03.2022 - 08:35

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What’s new? Two decentralized protocols were hacked at once: Hundred Finance and Agave. In total, the attackers managed to withdraw about $11 million in assets such as WETH, WBTC, WXDAI, GNO, LINK, and USDC.

Source: Twitter.com

“Unfortunately Hundred and Agave have both been exploited on Gnosis chain today. Gnosis team is aware, investigation is ongoing. All the Hundred markets on all chains paused for now,” the representatives of the Hundred Finance protocol said on Twitter.

What else is known about the attack? The protocols were hacked using an exploit and an instant loan service on the Gnosis blockchain. On March 15, Deus Finance DAO, a decentralized protocol, was hacked similarly. The hackers have already begun to launder the stolen funds using the Tornado Cash service.

Hundred Finance and Agave are decentralized lending protocols that provide users with access to various digital finance services.

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Editorial GetBlock Magazine

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