FilDA Multi-Chain Lending Platform Attacked on the Yilai Cloud Intelligent Chain and REI Network

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

The FilDA platform is a multi-chain lending agreement that allows users to borrow and lend cryptocurrencies across different blockchain networks. On April 23, the platform issued a statement revealing that it had been attacked on the Yilai Cloud intelligent chain (ESC) and REI network, resulting in losses of approximately $700,000.
# Overview
The attack on the FilDA platform is a significant concern for cryptocurrency users and investors alike. The security breach highlights the potential risks involved in using decentralized financial services, especially those that operate across multiple blockchain networks. This article will delve deeper into the details of the attack, including the identified vulnerabilities, the scope of the damage, and the steps taken by the FilDA team to address the issue.

Background

FilDA is a decentralized platform that allows users to borrow and lend cryptocurrencies across different blockchain networks. The platform is built on top of Ethereum, Binance Smart Chain, and Huobi Eco Chain, enabling users to trade and earn interest on their digital assets.

Vulnerabilities

The attack on FilDA platform was executed by exploiting vulnerabilities on the Yilai Cloud intelligent chain (ESC) and REI network. The hackers used a flash loan attack to manipulate the prices of assets on the platform, enabling them to profit at the expense of other users.
Additionally, the attackers targeted a loophole in the platform’s liquidity pool, which allowed them to withdraw funds without repaying the borrowed amount. The combination of these vulnerabilities resulted in significant losses for the platform and its users.

Damage

The damage caused by the attack on FilDA is estimated to be around $700,000. However, the platform has confirmed that no other deployments were affected, and the attack was limited to the ESC and Rei FilDA platforms only.
As a precautionary measure, FilDA has suspended the ESC and Rei platforms and is conducting a thorough review of the situation. Furthermore, the platform has announced plans to collaborate with security companies, CEX, and other parties to analyze on-chain activities and monitor the involved addresses.

Response

The response from the FilDA team has been prompt and proactive. The platform has immediately taken steps to address the attack by suspending the affected platforms and initiating a review of the vulnerabilities that were exploited.
The FilDA team has also encouraged affected users to contact local law enforcement and collaborate with them to investigate the theft incident. Additionally, the team has assured its users that they will remain vigilant and take all necessary steps to prevent such attacks in the future.
# Conclusion
The attack on the FilDA platform highlights the importance of maintaining strong security standards in the rapidly evolving cryptocurrency landscape. The incident serves as a reminder for both individuals and companies to take proactive measures to protect their digital assets and seek cooperation from relevant law enforcement agencies in case of a security breach. The FilDA platform is taking all necessary steps to address the issue and minimize the damage caused by the attack to its users.

FAQs

1. What is FilDA?
FilDA is a multi-chain lending agreement that allows users to borrow and lend cryptocurrencies across different blockchain networks.
2. How did the attackers exploit FilDA’s vulnerabilities?
The attackers used a flash loan attack to manipulate the prices of assets on the platform, enabling them to profit at the expense of other users. Additionally, they targeted a loophole in the platform’s liquidity pool, which allowed them to withdraw funds without repaying the borrowed amount.
3. What steps is FilDA taking to address the issue?
FilDA has suspended the affected platforms and is conducting a thorough review of the situation. Furthermore, the platform has announced plans to collaborate with security companies, CEX, and other parties to analyze on-chain activities and monitor the involved addresses.
# Keywords
FilDA, Multi-chain Lending, Security Breach.