EraLend, a decentralized lending protocol operating on the zkSync Layer 2, has fallen victim to an exploit resulting in a loss of $3.4 million. The attack was confirmed by security analysts at BlockSec, who have been assisting the protocol in addressing the issue. Following the attack, EraLend issued a statement acknowledging the security incident and assuring its users that the threat had been contained. The protocol has suspended all borrowing operations and advised users against depositing USDC until further notice. Re-Entrancy Attack Strikes EraLend According to BlockSec, the attack was a read-only re-entrancy attack. This attack involves a malicious actor
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Author: NixCoin