{"id":77871,"date":"2024-05-02T09:16:13","date_gmt":"2024-05-02T13:16:13","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=77871"},"modified":"2024-05-02T09:16:17","modified_gmt":"2024-05-02T13:16:17","slug":"hundred-finance-hacker-transfers-stolen-assets-after-one-year","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/hundred-finance-hacker-transfers-stolen-assets-after-one-year\/","title":{"rendered":"Hundred Finance Hacker Transfers Stolen Assets After One Year"},"content":{"rendered":"\n

After a year of inactivity, the hacker who stole $7.4 million from the decentralized Finance (DeFi) protocol<\/a> Hundred Finance has begun transferring the crypto assets.\u00a0\u00a0<\/p>\n\n\n\n

\"Hundred
Hundred Finance Hacker Transfers Stolen Assets After One Year<\/figcaption><\/figure>\n\n\n\n

The infiltrator removed approximately $800,000 worth of Ether and Tether from Curve's decentralized exchange (DEX) on May 1, more than a year after supplying liquidity on the platform. <\/p>\n\n\n\n

\"Token
Token transactions made by the Hundred Finance hacker. Source:\u00a0Etherscan<\/figcaption><\/figure>\n\n\n\n

Upon completion of the withdrawal process, the infiltrator converted USDT and additional cryptocurrencies to ETH. This resulted in an over $1 million increase in the exploiter's ETH. <\/p>\n\n\n\n

The compromised wallet currently contains an assortment of crypto assets worth $4.3 million, including Dai, Wrapped Ether, Frax, and Wrapped Bitcoin. <\/p>\n\n\n\n

The DeFi protocol disclosed a security vulnerability on the layer-2 network Optimism on April 15, 2023. <\/p>\n\n\n\n

According to the blockchain security firm CertiK\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, the perpetrator manipulated the hTOKENS-ERC-20 token exchange rate. Consequently, they were capable of withdrawing an excess of tokens deposited.\u00a0<\/p>\n\n\n\n

Flash loan attacks are a prevalent name for this in the DeFi community. Typically, this category of attack vector entails obtaining substantial sums of money through an unsecured loan from a lending platform. <\/p>\n\n\n\n

The assailant then manipulates the price of cryptocurrencies on DeFi platforms using the assets. The Hundred Finance breach resulted in fraud using an exchange rate to obtain substantial loans. <\/p>\n\n\n\n

Hundred Finance was also at risk of a Gnosis Chain vulnerability in 2022. A reentrancy attack depleted the liquidity of the protocol, leading to a financial loss of $6 million. <\/p>\n\n\n\n

In April 2024, there was a notable decline in the financial losses caused by flash loan attacks, a category of hacking that has caused considerable disruption in recent years. <\/p>\n\n\n\n

A report by CertiK indicates that the mere $129,000 in losses incurred in April were attributable to flash loan attacks. Its most significant incident of the month resulted in a mere $55,000 in damages. Since February 2022, this was the smallest amount lost to flash loan attacks, according to the report by CertiK. <\/p>\n\n\n\n

Moreover, overall crypto hacking losses<\/a> decreased during April. According to security firm PeckShield, hacking caused the loss of a mere $60 million during the month. This signifies a substantial decrease compared to the losses of $360 million and $187 million incurred in February and March, respectively.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

After a year of inactivity, the hacker who stole $7.4 million from the decentralized Finance (DeFi) protocol Hundred Finance has begun transferring the crypto assets.\u00a0\u00a0 The infiltrator removed approximately $800,000 worth of Ether and Tether from Curve’s decentralized exchange (DEX) on May 1, more than a year after supplying liquidity on the platform.  Upon completion […]<\/p>\n","protected":false},"author":12,"featured_media":77891,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[11476],"tags":[5680,11230,2118,8152],"class_list":["post-77871","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hacks-and-scams","tag-dex-2","tag-defi-protocol","tag-hacker","tag-hundred-finance"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/05\/image-2.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/77871","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=77871"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/77871\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/77891"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=77871"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=77871"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=77871"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}