Ethical Hacker Rescues the Day During 1.3 Million Dollars DeFi Breach

Crypto News– In the realm of decentralized finance (DeFi), a white hat hacker operating under the alias “c0ffeebabe.eth” emerged as a beacon of hope amidst a critical exploit targeting the Blueberry Protocol. This timely intervention shielded a significant sum of 457.6 Ethereum (ETH), equivalent to approximately $1.3 million.

Ethical Hacker Rescues the Day During 1.3 Million Dollars DeFi Breach

The Blueberry Protocol, renowned for facilitating lending and leveraged borrowing of up to 20 times the collateral value, found itself under siege on February 23.

In response, the protocol’s administrators swiftly issued an urgent advisory on X, urging users to withdraw their funds promptly to mitigate potential losses. Despite these efforts, the crisis escalated as the protocol’s front end became inaccessible.

However, within a mere 30 minutes, the protocol’s guardians successfully halted its operations. This rapid response effectively secured deposited funds and thwarted further exploitation. Notably, “c0ffeebabe.eth” played a pivotal role during this tumultuous period.

The exploit resulted in the depletion of funds from critical lending markets, including Bitcoin (BTC), Olympus (OHM), and USDC. This posed a significant threat to the total value locked (TVL) within the Blueberry Protocol. Nevertheless, the swift and decisive actions undertaken helped prevent a larger-scale crisis, thereby preserving the integrity of the protocol’s TVL.