Sonne Finance exploiter swaps 59 WBTC to 1,185 ETH and 183,000 DAI

Sonne Finance exploiter swaps 59 WBTC to 1,185 ETH and 183,000 DAI

Blockchain security firm PeckShield reported via Twitter that the attacker behind the exploit of Compound-based decentralized finance (DeFi) protocol Sonne Finance, which exposed the protocol to a "$20 million" exploit, swapped 59 WBTC for 1,185 ETH and 183,000 DAI. PeckShield also noted that the attacker laundered the stolen funds through the decentralized exchange (DEX) aggregator 1inch, making it difficult to track the funds. The Sonne Finance exploit was first reported on May 15, 2024, when PeckShield identified a vulnerability in the protocol's smart contract that allowed the attacker to manipulate the price of the protocol's native token, SONNE. The attacker then used this vulnerability to borrow a large amount of assets from the protocol, which they then sold for a profit. The Sonne Finance team has since patched the vulnerability, and the protocol is now operating normally. However, the exploit has raised concerns about the security of DeFi protocols, and has led to calls for increased regulation of the DeFi industry. Previously on May 15, 2024, PeckShield reported via Twitter that the attacker behind the exploit of Compound-based decentralized finance (DeFi) protocol Sonne Finance, which exposed the protocol to a "$20 million" exploit, swapped 59 WBTC for 1,185 ETH and 183,000 DAI. ---