FilDA Finance, a cross-chain lending DeFi project, has recently halted operations on the Elastos Smart Chain (ESC) and REI Network following an exploit that took place in the early hours of April 23.
The company has reported that the hack resulted in a loss of approximately $700,000. FilDA has assured its users that the vulnerability has been identified, and the attack vector has been isolated.
FilDA’s investigation into the exploit is ongoing, and the ESC and Rei FilDA platforms have been halted. The company is tracing the hacker’s activities and has found that the attacker’s address interacted with multiple crypto exchanges. All digital assets on FilDA’s ESC Chain, including Elastos token, Bitcoin, and BUSD, were affected by the attack.
FilDA postponed its launch on BitTorrent Chain to an undisclosed date because of the hack. The company has total deposits and loans of $21.3 million, and its network has 145,574 current addresses, according to its February monthly report.
This is not the first time FilDA’s ESC Chain has been exploited. In April 2022, the project lost around $2 million to a flash loan attack. The company implemented a remediation plan for affected users at that time, but it is unclear if the same plan will be adopted for the recent FilDA hack.