Sonne Finance Token Drops 60% After $20M Exploit on Optimism
Summary
SONNE token plummeted 60% to 2.5 cents after a $20 million hack on the decentralized lending protocol. The exploit involved a "donation" attack on the Optimism blockchain, manipulating markets and stealing tokens. The attacker took advantage of a two-day timelock to execute transactions, transferring millions of VELO, ether, and USDC. The protocol is working on recovering the stolen funds and has offered a bounty for the hacker.
