The FilDA multi-chain lending agreement falls victim to cyber attack

04/23/2023 11:46 • Metaverse Matters • 116 views

On April 23, it was reported that FilDA, a multi chain lending agreement, issued a statement on exploit, saying that it had been attacked on the Yilai Cloud intelligent chain (ESC) and REI network earlier today and had caused losses of about 700000 dollars. No other FilDA deployments were affected. Identified vulnerabilities and isolated attack media. The ESC and Rei FilDA platforms have been suspended and will only resume after a thorough review of the current situation. We will collaborate with CEX, security companies, and other parties to analyze on chain activities to help track and monitor these addresses. Law enforcement will be required to investigate this case and affected users will be encouraged to contact local law enforcement so that they are aware of the theft incident.

FilDA of the multi chain lending agreement issued a statement on exploit: it has caused losses of about 700000 dollars

Introduction

On April 23, FilDA, a multi-chain lending agreement, confirmed that it had suffered a cyber attack on the Yilai Cloud intelligent chain (ESC) and REI network. According to reports, the attack caused losses of approximately $700,000, but fortunately, no other FilDA deployments were affected. The company released a statement announcing that it had identified the vulnerabilities and isolated the attack media. The ESC and Rei FilDA platforms have been suspended and will only resume after a thorough review of the current situation.

What is FilDA?

FilDA is a decentralized finance (DeFi) platform that operates on multiple blockchain networks. It allows users to lend and borrow assets using smart contracts. The platform incentivizes users to deposit stablecoins on their platform by offering an annualized yield that is higher than the traditional banking systems.

The Cyber Attack

Despite the security measures taken by FilDA, it was still a target for cybercriminals. The hackers successfully exploited vulnerabilities in the Yilai Cloud intelligent chain (ESC) and REI network, leading to significant financial losses. The company has already identified the vulnerabilities and isolated the attack media to prevent similar incidents from happening in the future.

What Happens Next?

The FilDA team is working to ensure that the platform is secure before resuming any services to its users. The company has taken appropriate measures to safeguard its users’ funds by suspending the platforms until the review can be completed. Furthermore, FilDA plans to collaborate with security companies, CEX, and other parties to analyze on-chain activities to track and monitor the addresses of the attackers.

Get Involved

Affected users are encouraged to contact local law enforcement to inform them of the theft incident. It is imperative to keep authorities aware of any fraudulent activities, leading to the arrest of the perpetrators.

Conclusion

The cyber attack that occurred on FilDA is not an isolated event, and it highlights the need for increased security measures in the cryptocurrency space. However, it is reassuring that FilDA responded quickly to the attack and has taken appropriate measures to safeguard its users’ funds.

FAQs

Q1. How did the hackers gain access to FilDA’s platform?

The hackers exploited vulnerabilities in the Yilai Cloud intelligent chain (ESC) and REI network, which allowed them to target FilDA’s platform.

Q2. Will the FilDA platform reopen soon?

The FilDA platform will only resume after the necessary security measures have been put in place. The company has suspended the platforms until further notice to ensure that users’ funds are safe.

Q3. Will FilDA reimburse its users for their losses?

FilDA has stated that they will work with their users to ensure that their funds are secure. The company has also announced that it will collaborate with security companies, CEX, and other parties to track and monitor the addresses of the attackers.

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