dForce suffered a $25 million Hacker attack, and the founder reviews the events.

Yang Mindao, the founder of dForce, recently published an article reviewing the timeline of the platform's encounter with a Hacker attack. On April 19, the currency market Lendf.Me within the dForce ecosystem was hacked, and assets worth approximately $25 million were extracted from the contract.

On the day of the incident, around 9:15 Beijing time, the team discovered unusual transfer activities through the internal monitoring system. They immediately took emergency measures, suspending the operation of related contracts and shutting down the website to conduct a thorough investigation. The investigation is still ongoing, and the team has obtained some information about the Hacker; the attack activities have stopped.

Since the incident occurred, the dForce team has been actively seeking solutions. They are working with top security teams to conduct a comprehensive security assessment of the affected platform. Meanwhile, the team is also discussing feasible remedial measures with partners. Despite the attack, the team stated that they will not give up easily. Furthermore, they are closely cooperating with law enforcement agencies, exchanges, and over-the-counter traders to recover stolen funds and track the hacker's whereabouts.

The attack primarily exploited a vulnerability in the imBTC asset's ERC777 standard, where the Hacker used a reentrancy attack technique to repeatedly use forged imBTC as collateral for lending operations through the callback mechanism.

Yang Mindao admitted that this incident not only harmed the interests of users and partners but also caused serious economic losses to him and the entire team. He stated that the team would provide a more detailed explanation and clarification to the community before the end of the day.

This event once again highlights the security challenges faced in the field of decentralized finance (DeFi). Despite the setbacks, the dForce team has demonstrated a proactive attitude, and their subsequent actions will directly impact the future development of the platform and the restoration of user confidence.