EraLend Drained for $3.4M via Reentrancy
- DeFi
- Lending
- Security
EraLend lending platform on Polygon lost roughly $3.4 million when an attacker exploited a reentrancy vulnerability to manipulate token prices and drain funds. The exploit occurred on July 25 2023 and highlighted persistent smart contract risks in DeFi lending protocols. CT quickly circulated on-chain traces and PeckShield alerts as the team paused operations.
Incident Details
- Type
- PROTOCOL EXPLOIT
- Funds Lost
- $3.4M
- Status
- Partial recovery
Protocol paused withdrawals and began investigation