News with the tag "Sonne Finance"

The decline in crypto scams and frauds continued, with only $52 million lost in May compared to $59 million the previous year.

In a series of alarming incidents, two prominent decentralized finance (DeFi) platforms, Sonne Finance, and ALEX Lab, have been targeted … Continue reading The post Major lending protocol hit by $20M hack; Bitcoin DeFi tool loses $4.3M appeared first on Finbold .

Sonne Finance halted operations after a hack drained $20 million in cryptocurrencies, including WETH and USDC. Efforts to recover the funds are ongoing.

Sonne Finance, a decentralized liquidity market protocol, was hit by a cyberattack, with initial losses of $3 million in USD Coin and Wrapped Ethereum from its Optimism chain quickly escalating to $20 million, as detected by blockchain security firm Cyvers on May 15. Following the attack, Sonne Fina...