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How much of the exploited $20 million will be recovered by Sonne Finance by end of 2024?
4
Resolution / Starting Odds
Less than $5 million • 25%
Between $5 million and $10 million • 25%
Between $10 million and $15 million • 25%
More than $15 million • 25%
Official financial reports or statements from Sonne Finance
Story
Sonne Finance Exploited for $20 Million in Flash Loan Attack on Optimism Blockchain
May 15, 2024, 05:28 AM
Sonne Finance, a decentralized finance (DeFi) lending protocol on the Optimism blockchain, was exploited on May 14, 2024, resulting in a loss of approximately $20 million. The attack involved a known vulnerability in forks of Compound Finance, specifically a precision loss issue in CompoundV2 forks. The attacker utilized a 'donation attack' and a flash loan attack to manipulate certain markets offered by the platform, draining various tokens including USDC and WETH. The attacker borrowed VELO tokens through flash loans and exploited timelock contracts. In response, Sonne Finance has paused all its markets on Optimism to contain the breach. The incident marks the largest exploit recorded on the Optimism network to date.
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Similar markets
Yes • 50%
No • 50%
No significant changes • 25%
Management changes • 25%
New security measures implemented • 25%
Sonne Finance ceases operations • 25%
Fully recover to pre-attack market levels • 33%
Recover partially • 33%
Further decline • 34%
Increase • 33%
No significant change • 34%
Decrease • 33%
Upgrade security protocols • 33%
Hire external security consultants • 33%
Both upgrade protocols and hire consultants • 34%
Less than 1 billion • 25%
1 billion to 2.5 billion • 25%
2.5 billion to 4 billion • 25%
More than 4 billion • 25%
None recovered • 25%
Less than 50% recovered • 25%
50% - 75% recovered • 25%
More than 75% recovered • 25%
$5 million to $10 million • 25%
$10 million to $20 million • 25%
$20 million to $50 million • 25%
Over $50 million • 25%
Less than $10 million • 25%
$10 million to $20 million • 25%
$20 million to $30 million • 25%
More than $30 million • 25%