Over $7 Million Drained from Exactly Protocol on Optimism Layer 2 Network

SUMMARY

• Exactly Protocol has been hacked for 4300 ETH ($7.3 million).
• The exact details of the exploit are still unknown.
• The hack led to a sharp decline in the protocol's Total Value Locked (TVL).

Layer 2 Optimistic Rollup network Optimism has witnessed another security breach as Exactly Protocol, a DeFi platform offering interest rate markets, fell victim to an attack. 

Security firms such as Hacken and BlockSec uncovered the exploit, resulting in a staggering loss of approximately 4300 ether, equivalent to $7.3 million.

The hack leveraged a vulnerability in Exactly Protocol's smart contract, leading to significant losses. 

While specific details of the exploit are yet to be known, the incident led to a sharp decline in the protocol's Total Value Locked (TVL). Initially holding over $36 million, the TVL plummeted to under $26 million, according to data from DeFi Llama.