Hacks against DeFi platforms result in theft of millions

Decentralized finance platforms Exactly Protocol and Harbor Protocol had millions worth of cryptocurrency stolen in separate cyberattacks, reports The Record, a news site by cybersecurity firm Recorded Future. Exactly Protocol disclosed that it had lost $7.3 million worth of ETH in the attack, which it confirmed to be investigating since Aug. 18. Aside from attempting to communicate with threat actors behind the intrusion, Exactly noted that it has been working with Chainalysis and other experts in investigating the incident. Moreover, Exactly said that it will be addressing the vulnerability that was leveraged in compromising the DeFi protocol while giving a reward worth $700,000 for tips regarding the platform's hackers. Another cyberattack was reported by ComDex's DeFi tool Harbor Protocol on Aug. 19, although specifics regarding the value of pilfered cryptocurrency remain uncertain. Harbor has called on users to assist in tracing the stolen funds but users have expressed disappointment over the platform's lack of communication regarding the incident. PeckShield has reported that cyberattacks against crypto platforms have resulted in the theft of almost $500 million during the first six months of 2023.

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