Hundred Finance, an Optimism-based lending protocol, has lost around USD 7.4 million in a flash loan attack. 

Certik, a blockchain security solutions provider, stated that the hacker manipulated the exchange rate between ERC-20 tokens and protocols native hTOKENS to withdraw more tokens than they had deposited and take out large loans. 

Analyst Quicktake:   This news adds to the long list of DeFi hacks and exploits that have taken place over the course of the last year (with October 2022 being one of the worst months ever for crypto-related theft according to Chainalysis). It also comes just one month after Euler Finance , another DeFi lending protocol, lost over USD 200 million in a similar flash loan hack. Although the former recovered most of the stolen assets (90%) via negotiations with the attacker, it still remains unclear how Hundred Finance plans to deal with the issue.