Summer.fi Under Attack as Blockaid Flags $6M Exploit

DeFi protocol Summer.fi halts Lazy Summer vaults after $6 million exploit

The protocol’s SUMR token fell by over 18% over the incident.

Summer.fi under attack as Blockaid flags $6M exploit

Blockaid flagged an active Summer.fi exploit, saying about $6M was drained as DeFi vault security faces renewed market attention.

Summer Finance Faces Exploit, $6M Lost As Vault APY Hits 2.08M%

Summer Finance, a renowned DeFi platform, has recently undergone a significant exploit. In this respect, the Summer.fi exploiter has reportedly drained a staggering $6M in $DAI. As per the data from PeckShieldAlert, the incident majorly influenced the LazyVault LowerRisk USDC (LVUSDC). During this exploit, the displayed APY of the vault briefly jumped to a huge 2.08M%. It does not mean users could actually earn a 2.08 million% annual return. Ins…

DeFi platform Summer Finance loses $6M in vault exploit

DeFi platform Summer Finance, which offers “institutional DeFi Vault infrastructure for everyone” has been hacked for approximately $6 million. The sum was drained from its Lazy Summer USDC vault, managed by risk advisor Block Analitica. Summer Finance confirmed the exploit and has paused vaults while investigating the cause of the loss. #PeckShieldAlert @summerfinance_ has been exploited for $6M ethereum:0x6b175474e89094c44da98b954eedeac495271…

Summer Finance Drained of $6M in Flash Loan Exploit

DeFi vault platform Summer Finance was drained of roughly $6 million on Monday in an exploit that security firm Blockaid said its detection system flagged as it was unfolding. Blockaid posted the exploit transaction, the attacker's address and the affected Lazy Summer contracts within minutes of... Read the full story at The Defiant

Summer Finance Pauses Vaults After $65.4M Flash Loan Attack Triggers $6M Loss

On Monday, July 6, the DeFi protocol Summer Finance was hit by a sophisticated flash loan and price manipulation attack, resulting in an estimated loss of $6 million. Security Firms Flag Breach Blockchain security firms reported Monday, July 6, a major security breach targeting Summer Finance, a decentralized finance ( DeFi) yield optimization protocol. According […]