Optimism’s decentralized finance (DeFi) project Exactly Protocol has become the latest victim of an exploit.
According to Beosin Alert, hackers have already exploited over $7 million from Exactly Protocol. After the exploit, the hackers bridged 1,500 Ethereum (ETH) from Optimism to the Ethereum blockchain.
Exactly Protocol’s TVL Sharply Drops By Almost 60%
Exactly Protocol has mentioned that they are “looking” at the situation. So far, not many details are available regarding the exact reasons for the exploit.
According to DefiLlama, the Total Value Locked (TVL) sharply plummeted by around 60% from $40 million to $16 million.
Exactly Protocol has raised total funding of $5 million, the latest in January 2023. However, with the exploit, the project has lost more than the total funding amount.
Third parties have audited the code of Exactly Protocol. However, despite the audits, the hackers managed to find vulnerabilities causing the community disappointment
Exactly Protocol is not the only DeFi project to be exploited this week. On Tuesday, hackers stole over $869,000 from RocketSwap due to a compromise in private keys. And on Wednesday, the SwirlLend team conducted a rug pull worth over 252 ETH.
While experts try to enhance the security of the DeFi ecosystem, the community is frustrated with the current state of DeFi.
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