Blueberry DeFi Protocol Halts Operations Amid Active Exploit
Summary:
Blueberry, a decentralized finance protocol, paused its operations during an active exploit, as reported on Feb. 23 by the Blueberry Protocol Foundation. Users were urged to withdraw funds from the Blueberry lending markets, while the protocol was swiftly paused to avoid further damage. At the time of writing, the website and app had gone offline.
On Friday, Blueberry, a decentralized finance protocol, was promptly paused following an "active exploit". The Blueberry Protocol Foundation acknowledged the exploit in a public statement on Feb. 23, stating that they were undergoing a live exploit. According to PeckShield, a blockchain security firm, a self-proclaimed whitehat hacker named "c0ffeebabe" seems to have preemptively interfered with the attack. Furthermore, the foundation advised all users to retract their funds from the Blueberry lending markets and stated they were exerting maximum efforts to immobilize the protocol. Meanwhile, users mentioned problems in retracting funds and Blueberry recognised an issue with their front end.
PLEASE NOTE: Kindly start to withdraw from Blueberry lending markets - Blueberry Protocol Foundation (@blueberryFDN) February 23, 2024
Additionally, Blueberry instructed, “If it’s possible for you to directly interface with the contracts to withdraw, please proceed”. The protocol was confirmed to be on pause by Blueberry after roughly 30 minutes, assuring that any funds presently deposited can no longer be compromised and promising that more information would be provided as it becomes available.
UPDATE: The Protocol has been paused. The funds presently invested aren't susceptible to further exploits and updates will be shared as more details come to light https://t.co/otsa1WZMEj - Blueberry Protocol Foundation (@blueberryFDN) February 23, 2024
At the time of reporting, both the website and application were down with the following error message displayed: "A client-side exception has occurred". Blueberry protocol operates as a decentralized lending market, which facilitates lending and leveraged borrowing of up to 20 times the collateral value. As per DefiLlama reports, Blueberry protocol has a total value locked of $4.5 million and is a derivative of the Compound DeFi protocol. As this is an evolving story, more details will be shared as they become available.
Published At
2/23/2024 6:35:03 AM
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