Exactly Protocol, a DeFi project that offers interest rate markets on the Optimism Layer 2 network, has become the latest victim of a security attack. The exploit, which was detected by security firms including BlockSec and Beosin, has resulted in estimated losses of over $7 million.

The attacker exploited a vulnerability in Exactly Protocol’s smart contracts, leading to significant losses. The details of the exploit have not yet been publicly disclosed.

The protocol holds over $36 million in total value locked (TVL), according to data from DeFi Llama.

This is a developing story.

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