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Sonne Finance Hit by $20M Hack Attack

Decentralized liquidity market protocol, Sonne Finance, faced a major security breach resulting in losses of $20 million. The attack, initially costing $3 million in USD Coin and Wrapped Ethereum, quickly escalated. 

Sonne Finance logo with hacker symbol
Source: Coinbackyard

Suspension and Fake Account Alert 

In response, Sonne Finance suspended its Optimism Market while assuring Base markets remained safe. Additionally, a fake account circulated a suspicious link aiming to exploit the situation by revoking approvals. 

DeFi Vulnerabilities Exposed 

This incident highlights vulnerabilities within the DeFi sector, emphasizing the urgent need for enhanced security measures to protect assets from cyber threats. 

May 15, 2024 at 11:17 am

Updated May 15, 2024 at 11:17 am

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