Secured.Fi Lending Market Hacked, Losing $104,000

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The Secured.Fi lending market suffered a $104,000 loss after an ETH market update exposed a flaw in the getMarketUnitPrice() function. Attackers used flash loans to manipulate prices and drain funds. The initial exploit failed due to high gas costs, but a white-hat MEV bot, coffeebabe.eth, later withdrew 0.9 WBTC and 28.8 ETH. Some altcoins may be vulnerable to similar exploits. The funds were sent to ultrasound.money, with only $29 retained by the bot.

According to on-chain analysis platform Defimon Alerts (@DefimonAlerts), the Secured.Fi lending market on Ethereum was attacked, resulting in cumulative losses of approximately $104,000. Defimon flagged the attacker’s contract and issued a warning 45 minutes before the first funds were stolen. The attacker exploited a vulnerability in the getMarketUnitPrice() pricing function, using a flash loan to manipulate market prices through self-trading, then disguising fake loan positions as legitimate collateral to withdraw funds from the pool. The original attacker’s transaction reverted due to gas exhaustion, after which the white-hat MEV bot coffeebabe.eth front-ran the attack, claiming approximately 0.9 WBTC (~$72,000) and transferring about 28.8 ETH to the block builder ultrasound.money, retaining only ~$29 for itself.

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