Sonne Finance vows transparency and recovery efforts amid fallout
to a devastating exploit, resulting in a loss exceeding $20 million. The attack, suspected to have been orchestrated through a time-locked contract loophole, has sent shockwaves through the burgeoning DeFi landscape.According to insights from PeckShield, a blockchain security firm, Sonne Finance was targeted in what appears to be a carefully orchestrated attack, leveraging vulnerabilities in the protocol's smart contract infrastructure.
The exploit, detected by the Sonne Finance team approximately 25 minutes after it occurred, triggered the immediate suspension of all Optimism markets operated by the protocol. Moreover, the team pledged to offer a bounty to the exploiters and refrain from pursuing legal action if the misappropriated funds were returned., Sonne Finance promptly paused all market activities and engaged in dialogue with relevant stakeholders to explore avenues for fund recovery.
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