Ola Finance on Fuse Network suffers $3.6 million hack

Quick Take

  • Ola Finance has lost $3.6 million to an attack on its lending product on Fuse Network.
  • An unknown hacker took advantage of a reentrancy vulnerability in the protocol’s smart contract.
  • Ola operates a decentralized finance (DeFi) protocol across several blockchains, and Thursday’s attack targeted its deployment on the Fuse network . DeFi refers to the use of smart contracts instead of third parties for financial services such as lending and borrowing.

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lunaray

Lunaray takes a leading position in smart contract auditing and consulting service for blockchain security.