The most recent DeFi exploit targets the multi-chain lending protocol.

On the Optimism layer-2 scaling solution, Hundred Finance, a multi-chain lending protocol for decentralized finance (DeFi) based on the veHND model, has experienced a significant security breach.

The convention, which incorporates with Chainlink prophets to guarantee market wellbeing and soundness, declared by means of their authority Twitter account on Saturday, April 15, that they had been hacked with misfortunes assessed at USD 7 million.

On Twitter, Hundred Finance also said that it had communicated with the hackers and is in contact with various security teams to learn more about the incident.

Blockchain security firm CertiK, which is exploring the episode, expressed that the extent of the hack stays indistinct at the hour of composing.

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We will keep our readers informed of the most recent information and developments as they become available as this story develops. CryptoSlate will provide comprehensive coverage of this developing circumstance.

Added at 21:22 GMT: CertiK claims that the hacker who was targeting Hundred Finance took advantage of the rate of exchange between htokens and ERC-20 tokens, allowing them to withdraw more tokens than they had initially deposited. This attack is estimated to have cost approximately $7.4 million in financial losses.