Hackers have stolen $7M from the Hundred Finance DeFi Protocol, managing to manipulate its price.
The threat actor responsible for the breach has not been tracked yet.
- According to researchers, the threat actor stole the funds by donating 200 WBTC to inflate the exchange rate for hWBTC.
- The attacker specifically manipulated the exchange rate between ERC-20 tokens and htokens.
- By donating a large amount of WBTC to htoken contract, the hacker caused the exchange rate to rise.
- The company has stated that it will not comment on the threat vector that the hacker used to breach its digital infrastructure and has advised that external actors refrain from giving conclusions regarding the case until an official announcement.
- This is not the first time the company has been breached. In 2022, Hundred Finance and Agave were hacked by a reentrancy attack that cost them $11M.
