Optimism network-based decentralized credit market Exactly Protocol became the target of exploitation on August 18th. The breach resulted in a significant drop in the platform’s total value locked (TVL).
Meanwhile, Exactly’s recently-announced native token – EXA – slumped by more than 27% over the past day. The protocol was halted temporarily.
Another DeFi Project Hacked
Blockchain security firm PechShield was the first to alert Exactly Protocol of the attack and warned users to take necessary actions. Preliminary investigation suggested a loss of 4,300 ETH, equivalent to $7.3 million. However, the latest update by De.Fi, a Web3 antivirus platform, revealed that more than 7,160 ETH, worth nearly $12.04 million, has been drained from the protocol.
The security firm also explained that the exploitation strategy appears to involve funding an exploiter contract on Ethereum, transferring deposits to the layer-2 blockchain, Optimism, before ultimately bridging stolen funds back to E
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