Financial reports, market analysis

Sonne Finance Exploited for $20 Million in DeFi Attack on Optimism

May 15, 2024, 12:44 AM

Sonne Finance, a DeFi lending protocol based on Optimism, has been exploited in an attack resulting in a loss of approximately $20 million. The attack, which occurred on May 14, 2024, at 3:18 PST, targeted Sonne Finance's USDC and WETH contracts. The attacker, identified as 0xae4a7cde7c99fb98b0d5fa414aa40f0300531f43, exploited a time-locked contract vulnerability. According to PeckShield, Sonne Finance has suspended all Optimism markets, while confirming that the Base market remains secure.