A smart contract vulnerability led to nearly $2 million worth of lost funds within three days on Pike Finance, which is offering a 20% reward for the stolen assets.
Pike Finance has been exploited, resulting in the loss of $1.68 million worth of digital assets. The incident marks the protocol’s second exploit in three days.
Decentralized finance (DeFi) lending protocol Pike Finance suffered a $1.68 million exploit across the Ethereum, Arbitrum and Optimism chains on April 30, according to a report from on-chain analytics firm CertiK, shared with Cointelegraph.
The attacker used a vulnerability in Pike Finance’s smart contract to change the output address, draining the contract of over $1.4 million worth of Ether (ETH), $150,000 worth of Optimism (OP) tokens and over $100,000 worth of Arbitrum (ARB) tokens, according to CertiK.