Sonne Finance, a lending protocol deployed on Optimism and based on the Compound fork, was hacked today, resulting in a loss of over $20 million. In response to the hacking incident, Sonne Finance issued a statement earlier, stating that all markets on Optimism have been temporarily paused, while the markets on Base are currently secure.
Sonne Finance, the first decentralized lending protocol in the Optimism ecosystem, provides financial services to individuals, institutions, and . Users can deposit cryptocurrency assets and use them as collateral for borrowing.
However, according to PeckShield’s monitoring this morning, Sonne Finance was likely hacked due to a time lock contract issue, resulting in a loss of over $20 million.
Cryptocurrency influencer Tommy Famous pointed out that on Optimism, Sonne Finance’s USDC and WETH contracts were stolen, resulting in a loss of $3 million, and an additional $17 million was stolen, bringing the total loss to $20 million.
Experts have tweeted recommendations, suggesting that since Sonne Finance is based on the Compound V2 fork, all Compound V2 forks may be at risk. DefiLlama data shows that this includes Orbit, Ionic, and Iron Bank on LayerBank, Mendi Finance, and Blast.
In response to the hacking incident, Sonne Finance issued a statement this morning at 8 o’clock, stating that before the incident, Sonne Finance’s TVL was $35 million, but after the incident, it has dropped sharply to $11.36 million.
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