{"id":26865,"date":"2020-08-05T10:18:45","date_gmt":"2020-08-05T07:18:45","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=26865"},"modified":"2025-08-26T17:10:38","modified_gmt":"2025-08-26T14:10:38","slug":"defi-platform-opyn-loses-371000-in-hack","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/defi-platform-opyn-loses-371000-in-hack\/","title":{"rendered":"DeFi platform Opyn loses $371,000 in hack"},"content":{"rendered":"<p>Hackers siphoned about $371,000 of user funds from the DeFi platform Opyn, exploiting the vulnerability in the project\u2019s internal token, oTokens.<!--more--><\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p dir=\"ltr\" lang=\"en\">Here is an overview of the incident affecting ETH Put contracts. No other contracts are affected. ~371k USDC was lost. We worked with <a href=\"https:\/\/twitter.com\/samczsun?ref_src=twsrc%5Etfw\">@samczsun<\/a> to whitehack, securing ~439k USDC. Affected users, please see below. Full post-mortem coming in next few days.<a href=\"https:\/\/t.co\/ILNutAiqfU\">https:\/\/t.co\/ILNutAiqfU<\/a><\/p>\n<p>\u2014 opyn (@opyn_) <a href=\"https:\/\/twitter.com\/opyn_\/status\/1290782102196064256?ref_src=twsrc%5Etfw\">August 4, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The attackers carried out a double-spend attack on ETH put options, gaining access to collateral belonging to users who sold the contracts.<\/p>\n<p>To prevent further losses, Opyn withdrew 572 165 USDC from its own smart contract and also disabled the ability to purchase oTokens.<\/p>\n<p>The Opyn options protocol is fully decentralised, therefore the project leadership cannot control or temporarily disable it in the event of an attack.<\/p>\n<p>The company proposed buying back the victims\u2019 oTokens at a 20% premium to compensate for losses. The question of compensating users without tokens is being considered.<\/p>\n<p>Opyn pledged to bolster the protocol&#8217;s security and to increase rewards for external developers for identifying vulnerabilities. The leadership will also conduct additional audits of the reliability of the smart contracts.<\/p>\n<p>Earlier in February, attackers conducted two consecutive successful attacks on the DeFi protocol bzx. The losses amounted to $350,000 and $645,000, respectively. In April, a hacker withdrew $25 million from the dForce project\u2019s ecosystem, after which the funds were returned in full.<\/p>\n<p>Follow ForkLog news on <a href=\"https:\/\/www.facebook.com\/forklog\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Facebook<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hackers siphoned about $371,000 of user funds from the DeFi platform Opyn, exploiting the vulnerability in the project\u2019s internal token, oTokens.<\/p>\n","protected":false},"author":1,"featured_media":26866,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1154,1093],"class_list":["post-26865","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-crimes","tag-defi"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/26865","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=26865"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/26865\/revisions"}],"predecessor-version":[{"id":26867,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/26865\/revisions\/26867"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/26866"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=26865"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=26865"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=26865"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}