{"id":640659,"date":"2023-04-23T05:59:00","date_gmt":"2023-04-23T10:59:00","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/04\/23\/crypto-lending-protocol-filda-halts-operations-following-700000-exploit\/"},"modified":"2023-04-23T05:59:00","modified_gmt":"2023-04-23T10:59:00","slug":"crypto-lending-protocol-filda-halts-operations-following-700000-exploit","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/04\/23\/crypto-lending-protocol-filda-halts-operations-following-700000-exploit\/","title":{"rendered":"Crypto Lending Protocol FilDA Halts Operations Following $700,000 Exploit"},"content":{"rendered":"
\n

Cross-chain lending DeFi<\/a> project\u00a0FilDA Finance has halted operations on the Elastos Smart Chain (ESC) and REI Network following an exploit.<\/strong><\/p>\n

The project said that the hack had taken place in the early hours of Sunday morning (April 23). <\/p>\n

Crypto Lending Protocol FilDA Hacked<\/h2>\n

In a public statement<\/a>, FilDA said the exploit resulted in a loss of approximately 700,000 USD. It added that \u201cthe vulnerability has been identified and the attack vector isolated.\u201d <\/p>\n

While the investigation is ongoing, FilDA said the ESC and Rei FilDA platforms had been halted. The DeFi<\/a> project added it was tracing the hacker\u2019s activities, and its initial investigations showed that the attacker\u2019s address interacted with multiple crypto exchanges.<\/p>\n

According to its official Telegram group<\/a>, the attack affected all digital assets on FilDA\u2019s ESC Chain, which included the Elastos token, Bitcoin<\/a>, and BUSD. <\/p>\n

FilDA assets other than those on the Elastos Smart Chain (ESC) and REI Network remain unnafected.<\/p>\n

According to its February monthly report<\/a>, FilDA has total deposits and loans of $21.3 million. The project also has 145,574 current addresses on the network.<\/p>\n

This is not the first time FilDA\u2019s ESC chain has been exploited<\/a>. In April 2022, the project lost around $2 million to a flash loan attack. At the time, the crypto startup instituted a\u00a0remediation plan for affected users. It is unclear if the company will adopt a similar plan for the recent FilDA hack.<\/p>\n

FilDA Price Unaffected So Far<\/h2>\n

Despite the FilDA hack, FilDA\u2019s token has risen by more than 2% in the last 24 hours to $0.00170406 at the time of writing, according to Coingecko data<\/a>. <\/p>\n

The FILDA token had dropped by more than 7% in the previous seven days and by over 13% in the last 30 days.<\/p>\n

\"FilDA
FilDA Price Performance. Source: Coingecko<\/a><\/figcaption><\/figure>\n

However, a mild market recovery at the weekend has improved sentiments surrounding the token. Over the last 24 hours,\u00a0Bitcoin\u00a0has risen above $27,000, while ETH trades at $1,867.<\/p>\n

DeFi Exploits Rising<\/h2>\n

This incident further highlights the risks of\u00a0DeFi\u00a0and adds to the growing tally of losses from hacks in 2023. <\/p>\n

Earlier this month, SushiSwap was hit for over $3 million in a single attack<\/a>. Meanwhile, several DeFi protocols, including Allbridge, Sentiment, and\u00a0Yearn Finance<\/a>, were\u00a0exploited<\/a> for more than $20 million between them.<\/p>\n

\n

Disclaimer<\/h3>\n

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content.<\/p>\n<\/div><\/div>\n

Read More<\/a>
\n Oluwapelumi Adejumo<\/p>\n","protected":false},"excerpt":{"rendered":"

Cross-chain lending DeFi project\u00a0FilDA Finance has halted operations on the Elastos Smart Chain (ESC) and REI Network following an exploit. The project said that the hack had taken place in the early hours of Sunday morning (April 23). Crypto Lending Protocol FilDA Hacked In a public statement, FilDA said the exploit resulted in a loss […]<\/p>\n","protected":false},"author":1,"featured_media":640660,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22791,534,30424],"tags":[],"class_list":["post-640659","post","type-post","status-publish","format-standard","has-post-thumbnail","category-crypto","category-financial","category-lending"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/640659","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=640659"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/640659\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/640660"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=640659"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=640659"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=640659"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}