Exactly Protocol Targeted by Hackers, $7.2 Million Worth of Ethereum Stolen

One sentence summary – Hackers targeted the Optimism-based decentralized credit market protocol, Exactly, stealing approximately $7.2 million worth of Ethereum, prompting a temporary pause in functionality while a comprehensive investigation takes place to address the vulnerabilities exploited in the attack and prevent future incidents, causing a sharp 32% drop in the price of the associated altcoin EXA.

At a glance

  • The Exactly protocol, a decentralized credit market, has been targeted by hackers.
  • The attackers stole approximately $7.2 million worth of Ethereum (ETH).
  • De.Fi, a leading web3 protocol, has verified the security breach.
  • The hackers manipulated the market address within the DebtManager contract to execute their attack.
  • The protocol’s functionality has been temporarily paused for a comprehensive investigation.

The details

The Optimism-based decentralized credit market protocol, Exactly, has recently been targeted by hackers.

In a successful breach, the attackers managed to steal approximately $7.2 million worth of Ethereum (ETH).

This incident has been verified by the security department of De.Fi, a leading web3 protocol.

The hackers were able to execute their attack by manipulating the market address within the DebtManager contract of the Exactly protocol.

Following the breach, the protocol’s functionality has been temporarily paused.

This pause is to allow for a comprehensive investigation into the security breach.

Despite the pause in functionality, investors are still able to withdraw their funds from the protocol.

Insights into the methods used by the hackers have been provided by blockchain security firm Beosin.

Their analysis has highlighted the vulnerabilities that were exploited during the attack.

This information is aiding the investigation process in identifying and addressing these weaknesses.

The hack has had a significant impact on the altcoin EXA, which is associated with the Exactly protocol.

In the 24 hours following the incident, the price of EXA fell sharply by 32%.

At the time of writing, EXA is trading at $4.28.

Efforts are currently being made to rectify the security breach and restore normal operations to the Exactly protocol.

Investors are being urged to remain vigilant and exercise caution during this time.

Updates will be provided as the investigation progresses and additional security measures are implemented.

These measures are being put in place to prevent similar incidents from occurring in the future.

This brief provides a comprehensive overview of the incident, including details of the hack, the stolen amount, the method used by the hackers, the temporary pause in protocol functionality, the impact on the EXA altcoin’s price, and the ongoing investigation and mitigation efforts.

Article X-ray

A lock with a broken chain and a missing piece, symbolizing a security breach and stolen Ethereum.

This section links each of the article’s facts back to its original source.

If you have any suspicions that false information is present in the article, you can use this section to investigate where it came from.

dailyhodl.com
– An Optimism-based decentralized credit market protocol called Exactly has been hacked.
The hackers stole approximately $7.2 million worth of Ethereum (ETH) from the protocol.
The security department of web3 protocol De.
Fi confirmed the hack and the stolen amount.
The hackers exploited the Exactly protocol by manipulating the market address in the DebtManager contract.
The protocol has been temporarily paused while the issue is being investigated, but investors can still withdraw funds.
The blockchain security firm Beosin explained how the hacker bypassed the protocol’s security measures.
The news of the hack caused a significant decrease in the price of the altcoin EXA, which fell by 32% in the last 24 hours.
At the time of writing, EXA is trading at $4.28.

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