Exactly Protocol exploited for over $7 million on Optimism Layer 2 network: BlockSec

Quick Take

The exploit has resulted in estimated losses of over $7 million, according to security firms.

Exactly Protocol, a DeFi project that offers interest rate markets on the Optimism Layer 2 network, has become the latest victim of a security attack. The exploit, which was detected by security firms including BlockSec and Beosin, has resulted in estimated losses of over 4300 ether ($7.3 million).

The attacker exploited a vulnerability in Exactly Protocol’s smart contracts, leading to significant losses. The details of the exploit have not yet been publicly disclosed.

The protocol held over $36 million in total value locked (TVL) at the time of the hack, according to data from DeFi Llama. This figure has dropped to below $26 million.

This is a developing story.