An alleged moral hacker has drained $1.59 million from the decentralized finance (DeFi) lending platform Tender.fi, main the service to halt borrowing whereas it makes an attempt to recoup its property.
Web3-focused good contract auditor CertiK, and blockchain analyst Lookonchain, flagged an exploit that noticed funds drained from the DeFi lending protocol on March 7. Tender.fi confirmed the incident on Twitter, citing “an uncommon quantity of borrows” by way of the protocol:
We’re investigating an uncommon quantity of borrows that got here by way of the protocol- within the meantime, now we have paused all borrowing. Thanks on your persistence.
— Tender.fi (@tender_fi) March 7, 2023
The newest replace from the platform claims {that a} white hat hacker has made contact, and discussions are underway to recoup property taken through the exploit. White hat hackers are often known as moral hackers and usually search for and reap the benefits of safety flaws in numerous protocols earlier than returning funds.
The whitehat has made contact over debank and we’re at the moment in discussions on easy methods to treatment this example. We are going to replace you with extra data when now we have it.
— Tender.fi (@tender_fi) March 7, 2023
Cointelegraph reached out to CertiK to unpack the scenario, which highlighted that the exploiter left an on-chain message which has been verified on the Arbitrum Blockchain Explorer:
Lookonchain provided additional particulars of the exploit, citing blockchain information exhibiting that the white hat hacker borrowed $1.59 million price of property from the protocol by depositing 1 GMX token, valued at $71 on the time of writing.
Associated: $700,000 drained from BNB Chain-based DeFi protocol LaunchZone
Cointelegraph has reached out to Tender.fi to establish additional particulars of the exploit and whether or not funds will probably be returned by the white hat hacker. DeFi protocols have been the goal of hackers in early 2023, with seven completely different platforms dropping over $21 million in February alone. Hackers additionally took benefit of an oracle exploit in Jan. 2023, seeing over $120 million stolen from BonqDAO.
