dForce suffers a $25 million Hacker attack, founder details the events from start to finish.

The founder of dForce, Yang Mindao, recently issued a statement detailing the entire process of the platform's encounter with a Hacker attack. On April 19, dForce's currency market Lendf.Me experienced a security incident, resulting in approximately $25 million in assets being illegally withdrawn.

Around 9:15 AM on the day of the incident, the dForce team noticed unusual transfer activities through their internal monitoring system. Immediately, the team took emergency measures, suspending the operation of the Lendf.Me and USDx contracts and temporarily shutting down the website to conduct an investigation. Currently, the investigation is still ongoing, and the team has obtained some information related to the Hacker, while the attack has already stopped.

Since the incident, the dForce team has been actively seeking solutions. They have taken the following measures: first, collaborating with top security teams to conduct a comprehensive security assessment of Lendf.Me; second, discussing feasible solutions with partners; and finally, working closely with law enforcement, exchanges, and over-the-counter traders to recover the stolen funds and track the Hacker's movements.

The attack mainly exploited the vulnerability of the imBTC asset's ERC777 standard, implemented through a re-entrancy attack method. The attacker used the callback mechanism to repeatedly use forged imBTC as collateral for lending operations.

Yang Minda emphasized that this incident has not only affected users and partners but has also brought tremendous economic losses to himself and the entire team. He stated that despite facing this setback, the team will not give up easily.

The dForce team promises to provide the community with more detailed explanations and clarifications within the same day to address public concerns. This incident once again highlights the importance of strengthening the security of blockchain projects and reminds investors to carefully assess the risks of participating in decentralized finance projects.