Sonne Finance, the decentralized lending protocol built on Optimism, was recently hacked, resulting in a loss of over $20 million. In response to the hacking incident, Sonne Finance has released a statement earlier, announcing the temporary suspension of all markets on Optimism, while assuring the safety of the markets on Base.
Sonne Finance, being the first decentralized lending protocol in the Optimism ecosystem, provides financial services for individuals, institutions, and . Users can deposit their cryptocurrency assets and use them as collateral for loans.
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 expert Tommy Famous pointed out that on Optimism, Sonne Finance’s USDC and WETH contracts were stolen, amounting to $3 million, and an additional $17 million was stolen, bringing the total loss to $20 million.
Experts have advised that since Sonne Finance is a fork of Compound V2, all Compound V2 forks may be at risk. According to DefiLlama, this includes projects such as LayerBank, Mendi Finance, Blast’s Orbit, Ionic, and Iron Bank.
In response to the hacking incident, Sonne Finance released a statement this morning at 8 am. According to DefiLlama data, Sonne Finance’s TVL was $35 million before the incident but has since plummeted to $11.36 million.
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