$6M Exploit Hits Summer.fi's Ethereum Platform

A blockchain security firm has detected an exploit on Summer.fi's Ethereum platform that drained approximately $6 million in DAI.

The exploiter targeted three affected contracts, and Blockaid published the exploiter's wallet address and an example transaction hash to help researchers track fund flows.

Summer.fi originally launched as Oasis.app in 2019 but rebranded in 2023 to expand its focus beyond MakerDAO to include multiple DeFi protocols. This incident is a first for the platform's security track record, making it a notable case in the space.