Solana-Primarily based Lending App Solend Will get Hacked for $1.26 Million in ‘Oracle Assault’ – Defi Bitcoin Information

Bitcoin News


The Solana-centric lending utility Solend misplaced $1.26 million in an oracle assault, in accordance with Solend’s official Twitter account on Wednesday. Plenty of affected swimming pools have been disabled, and Solend says it has given crypto exchanges the exploiter’s deal with.

Solana Defi Utility Solend Loses $1.26 Million in Oracle Exploit

The crypto group has seen two important hacks within the final 24 hours, and one in all them stemmed from the decentralized finance (defi) protocol Solend. The crew’s official Twitter account tweeted concerning the loss after it mentioned it suffered from an oracle assault that affected quite a few remoted swimming pools.

“An oracle assault on USDH affecting the Steady, Coin98, and Kamino remoted swimming pools was detected, leading to $1.26M in dangerous debt,” Solend tweeted. “All different swimming pools together with the Principal pool are protected. Affected swimming pools have been disabled and exchanges have been notified of the exploiter’s deal with — Observe that the assault didn’t contain Pyth,” the Solend crew added.

The Solend exploit was additionally reported by the blockchain and sensible contract safety auditors Peckshield and Certik. “Solend has detected an oracle assault, leading to ~$1.26M in dangerous debt. Affected swimming pools have already been disabled,” Peckshield advised the agency’s 37,900 Twitter followers. Certik additionally confirmed the exploit on Twitter when the corporate wrote:

Solend has reported that an oracle assault on USDH has affected the Steady, Coin98, and Kamino remoted swimming pools. The affected swimming pools have been disabled — Keep vigilant.

The Solend hack follows the crypto choices large Deribit shedding $28 million in a sizzling pockets assault on Nov. 1, 2022. The 2 hacks additional observe a big rise in hacks that passed off throughout 2022’s third quarter. Certik’s “2022 Q3 Hack3d Report” highlights the truth that malicious actors drained greater than $504 million in worth from Web3 protocols in Q3 2022.

Tags on this story
$1.26 million, certik, Certik Q3 report, Defi Bugs, defi exploits, Deribit Hack, Drained $1.26M, Exploit, Exploiter, Hack, Hacker, Hacking, Hacks, Oracle Assault, Peckshield, Swimming pools, Q3 2022, Solana, Solend, Solend Hack, Web3 protocols

What do you concentrate on Solend shedding $1.26 million in an oracle assault? Tell us what you concentrate on this topic within the feedback part beneath.

Jamie Redman

Jamie Redman is the Information Lead at Information and a monetary tech journalist dwelling in Florida. Redman has been an energetic member of the cryptocurrency group since 2011. He has a ardour for Bitcoin, open-source code, and decentralized purposes. Since September 2015, Redman has written greater than 6,000 articles for Information concerning the disruptive protocols rising as we speak.

Picture Credit: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This text is for informational functions solely. It isn’t a direct supply or solicitation of a suggestion to purchase or promote, or a advice or endorsement of any merchandise, providers, or firms. doesn’t present funding, tax, authorized, or accounting recommendation. Neither the corporate nor the creator is accountable, immediately or not directly, for any harm or loss triggered or alleged to be brought on by or in reference to the usage of or reliance on any content material, items or providers talked about on this article.


Leave a Reply

Your email address will not be published. Required fields are marked *