Sonne Finance, a decentralized lending protocol deployed on Optimism, was hacked today, resulting in a loss of over $20 million. In response to the hacking incident, Sonne Finance released a statement earlier, announcing the temporary suspension of all markets on Optimism, while assuring the safety of markets on the Base layer.
Sonne Finance is the first decentralized lending protocol in the Optimism ecosystem, providing financial services to individuals, institutions, and traders. 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 issues with the time lock contract, resulting in a loss of over $20 million. Cryptocurrency expert Tommy Famous stated that on Optimism, Sonne Finance’s USDC and WETH contracts were stolen, resulting in a loss of $3 million, with an additional $17 million being stolen, totaling a loss of $20 million.
Experts have suggested that since Sonne Finance is a fork of Compound V2, all Compound V2 forks may be at risk. According to DefiLlama, these include LayerBank, Mendi Finance, Blast’s Orbit, Ionic, and Iron Bank, among others.
In response to the hacking incident, Sonne Finance issued a statement this morning at 8 am. According to DefiLlama data, Sonne Finance’s TVL was $35 million before the hacking incident, but has dropped to $11.36 million after the incident.
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