Lending protocol Sonne Finance faces $20 million exploit, pauses markets on Optimism

Sonne Finance, a decentralized lending protocol, experienced an exploit on Wednesday morning in Asia, resulting in losses amounting to approximately $20 million.

In response to the attack, Sonne Finance wrote in a post on X that it had paused all markets on Optimism, while those on Base remained operational. The team explained in the post-mortem that it recently passed a proposal to add VELO markets to Sonne.

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