Published: 23/02/2024
Last Updated: 22/08/2024 -

Blueberry DeFi Protocol Temporarily Pauses Lending

Blueberry, a decentralized finance protocol, successfully halted its operations in response to an urgent need to mitigate potential damage arising from an "ongoing exploit" on Friday.

In a post dated Feb. 23 on X, the Blueberry Protocol Foundation acknowledged the existence of the ongoing exploit. However, it was noted that the situation had already been addressed by the whitehat hacker known as “c0ffeebabe,” as reported by blockchain security firm PeckShield.

In a separate communication, users were advised to promptly withdraw their funds from Blueberry lending markets, and the protocol was swiftly put on pause to contain the situation. Amidst the turmoil, users encountered challenges withdrawing funds, with Blueberry acknowledging the front end’s unavailability.

“The front end is also down, so if you are able to interact directly with the contracts to withdraw, please do.”

Approximately 30 minutes later, Blueberry confirmed the successful pause of the protocol, ensuring that funds already deposited were no longer vulnerable to exploitation.

As of the writing of this update, the Blueberry website and app remained offline, displaying an application error message: “A client-side exception has occurred.”

Blueberry protocol, known for facilitating decentralized lending markets and supporting leveraged borrowing up to 20 times the collateral value, boasts a total value locked of $4.5 million, according to DefiLlama. Notably, it was forked from the Compound DeFi protocol.

(1 vote)

2.0/5

(1 vote)