At dawn on April 27, Pike Finance (a cross-chain lending project) was attacked with an estimated loss of 300,000 USDC.
Pike Finance was hacked because of problems related to the CCTP system
In its latest announcement to users, Pike Finance said the pools USDC on Ethereum, Arbitrum and
On the morning of April 27, Pike Finance (cross-chain lending project) was attacked with an estimated loss of USDC 300,000.
****Pike Finance was hacked due to CCTP-related issues
In its latest announcement to users, Pike Finance said USDC pools on Ethereum, Arbitrum and Optimism have been hacked. The reason for the incident came from a fake cross-chain message on the CCTP bridge network of Cirlce, the issuance of the stablecoin USDC.
However, users of USDC pools on Base's network are not affected by the vulnerability. Pike Finance also said estimated losses from the incident hovered around USDC 300,000. In addition, the project is investigating the vulnerability and will plan to reimburse users who suffered damages.
Currently, details of the vulnerability have not been released and Circle and bridge CCTP connection have not yet made a specific announcement. The latest updates from the incident will be sent to readers by Coin68 soon.
Pike Finance is a lending solution that allows users to make cross-chain loans, with assets stake flexibly distributed across many different networks.
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