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The post EraLend suffers a $3.4 million read-only reentrancy attack on the Ethereum blockchain! appeared first on Coinpedia Fintech News
EraLend, the largest lending protocol on the Ethereum scaling blockchain, zkSync, has suffered a $3.4m read-only reentrancy attack. The incident led to a slump in the amount of capital locked on the platform from $18.5m to $10.75m. The exploit allowed an attacker to manipulate asset prices via repeated calls to the smart contract. EraLend has suspended all borrowing operations and advised against depositing USDC. The firm said it is working with partners and cybersecurity firms to tackle the attack.
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