FilDA, a Protocol for Crypto Lending, Ceases Operations After Being Hacked

Cross-chain lending DeFi project FilDA Finance has temporarily halted operations on the Elastos Smart Chain (ESC) and REI Network after a hacking incident. FilDA said the hack took place on April 23 and resulted in an estimated $700,000 loss. Investigations are continuing, but the company said the vulnerability had been identified and the attack vector isolated. In a statement, it added that the attacker’s address interacted with multiple cryptocurrency exchanges. Despite the hack, FilDA’s token price increased by more than 2%, according to Coingecko data. The incident highlights the risks involved in DeFi, following a series of major losses suffered by various projects this year.