A vulnerability in Blueberry smart contracts was discovered on the night of Friday, February 23. According to the PeckShield company, a “white hat hacker” under the pseudonym “c0ffeebabe” was engaged in protecting the assets of project users. Later, the developers managed to stop the protocol and user funds were removed from the threat.
The developers reported that the hackers managed to withdraw 457 ETH, but the “white hat hacker” managed to return 366 ETH. Thus, the losses from the hack amounted to 91 ETH (about $270,000). Currently, the project developers are working to close the vulnerability.. After fixing the error, they will update the smart contracts and the protocol will be restored.
Blueberry Project is a decentralized finance lending protocol. It allows users to borrow up to 20 times their collateral. The protocol became an offshoot of the Compound project, and the total amount of funds blocked in Blueberry reached $4.5 million.
The hack was previously reported by the decentralized finance protocol Barley Finance.