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News

LendHub Is Attacked Leads To A Loss Of Nearly $6 Million

January 13, 2023 - Around 2 mins mins to read

Key Points:

  • The HECO cross-chain lending platform LendHub was recently hacked, leading to a loss of $6 million of crypto assets in an attack.
  • The hacker used multiple platforms to launder the money, including TransitSwap, Multichain, Uniswap, Curve, and OptimismBridge.
  • So far, attackers have transferred a total of 1,100 ETH to cryptocurrency mixer Tornado Cash in 11 transactions and about 100 ETH to Uniswap V3.
According to information from the SlowMist security team, LendHub, the HECO ecosystem cross-chain lending platform, lost $6 million of crypto assets in an attack.
LendHub Is Attacked Leads To A Loss Of Nearly $6 million

LendHub was suspected to be attacked, and the main hacker profit address was 0x9d01..ab03, the team reported on Friday.

After the hacker received 100 ETH from Tornado Cash on January 12, he cross-chained part of the funds to the Heco chain to attack and make profits and then used multiple platforms (such as TransitSwap, Multichain, Uniswap, Curve, and Optimism Bridge) to cross-chain or exchange stolen funds. So far, the hacker has transferred 1,100 ETH to Tornado Cash in 11 transactions and about 100 ETH to Uniswap V3.

The specific reason for the attack is yet to be analyzed, and the SlowMist security team will continue to follow up on this incident.

LendHub calls itself “the safest decentralized lending platform” for cross-chain lending. It was built on the Heco blockchain developed by Huobi but was ugly stolen by hackers of millions of dollars in assets. This led to some sarcastic comments by the crypto community.

LendHub Is Attacked Leads To A Loss Of Nearly $6 million

The DeFi lender has said that it will thoroughly examine the circumstances surrounding the occurrence, the location of the hacker, and the locations of the monies, and do everything in its power to find the stolen property and make up for any damages. Users of the community will be kept up to date on any advancements and improvements as they take place.

2022 has been a very challenging year for cryptocurrencies. So much so that on the one hand, there were sharp in price, on the other hand, there were large-scale hacking events against crypto platforms. It seems that through the beginning of this year, these events have not stopped happening.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Harold

Coincu News

cross-chain lending

Curve

HECO

LendHub

multichain

Tornado cash

TransitSwap

Uniswap

Avatar of Harold

Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
News

LendHub Is Attacked Leads To A Loss Of Nearly $6 Million

Key Points:

  • The HECO cross-chain lending platform LendHub was recently hacked, leading to a loss of $6 million of crypto assets in an attack.
  • The hacker used multiple platforms to launder the money, including TransitSwap, Multichain, Uniswap, Curve, and OptimismBridge.
  • So far, attackers have transferred a total of 1,100 ETH to cryptocurrency mixer Tornado Cash in 11 transactions and about 100 ETH to Uniswap V3.
According to information from the SlowMist security team, LendHub, the HECO ecosystem cross-chain lending platform, lost $6 million of crypto assets in an attack.
LendHub Is Attacked Leads To A Loss Of Nearly $6 million

LendHub was suspected to be attacked, and the main hacker profit address was 0x9d01..ab03, the team reported on Friday.

After the hacker received 100 ETH from Tornado Cash on January 12, he cross-chained part of the funds to the Heco chain to attack and make profits and then used multiple platforms (such as TransitSwap, Multichain, Uniswap, Curve, and Optimism Bridge) to cross-chain or exchange stolen funds. So far, the hacker has transferred 1,100 ETH to Tornado Cash in 11 transactions and about 100 ETH to Uniswap V3.

The specific reason for the attack is yet to be analyzed, and the SlowMist security team will continue to follow up on this incident.

LendHub calls itself “the safest decentralized lending platform” for cross-chain lending. It was built on the Heco blockchain developed by Huobi but was ugly stolen by hackers of millions of dollars in assets. This led to some sarcastic comments by the crypto community.

LendHub Is Attacked Leads To A Loss Of Nearly $6 million

The DeFi lender has said that it will thoroughly examine the circumstances surrounding the occurrence, the location of the hacker, and the locations of the monies, and do everything in its power to find the stolen property and make up for any damages. Users of the community will be kept up to date on any advancements and improvements as they take place.

2022 has been a very challenging year for cryptocurrencies. So much so that on the one hand, there were sharp in price, on the other hand, there were large-scale hacking events against crypto platforms. It seems that through the beginning of this year, these events have not stopped happening.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Harold

Coincu News

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