Hundred Finance Latest Victim in DeFi Hacks, Loses $7 Million in Security Breach
Recently there have been lots of security breaches in many popular DeFi protocols. Today, yet another project lost millions in a hacking incident.
Hundred Finance, a lending protocol based on decentralized Finance (DeFi) across multiple chains, has encountered a significant security breach while utilizing the veHND model on the Optimism layer-2 scaling solution.
To ensure market health and stability, the protocol combines with Chainlink oracles. On Saturday, April 15, the protocol declared through its official Twitter account that it had suffered a hack, leading to losses that were approximated at $7 million.
Hundred Finance also stated via Twitter that it had reached out to the hackers and is in discussions with several security teams to better understand the event.
Estimated current loss is ~7m USD.
Once again we hope the hacker will reach out back to us and we will be able to find a joint solution to resolve this matter. 🙏
Thank you everyone for your support and help during these difficult times. ❤️ https://t.co/wLGAl4AAGA
— Hundred Finance (@HundredFinance) April 15, 2023
At the time of writing, CertiK, a blockchain security firm assigned to investigate the incident, has stated that the scale of the breach remains unclear.
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On April 13, Aave and Yearn Finance lost $10 million in an exploit. Before that SushiSwap fell victim to a security breach, which led to the loss of over $3 million, thanks to a bug in the smart contract.
Alexander Stefanov
Reporter at CoinsPress
Alex is Editor-in-Chief of Coinspress and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
