DeFi Protocol Solend Struck by $1.26M Oracle Exploit

The Stable, Coin98 and Kamino lending pools have all been disabled.

AccessTimeIconNov 2, 2022 at 10:09 a.m. UTC
Updated May 9, 2023 at 4:01 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Solana-based decentralized finance (DeFi) protocol Solend has suffered an exploit in relation to pricing oracles, resulting in $1.26 million in bad debt.

The exploit was centered around the hubble stablecoin (USDH) and affected the Stable, Coin98, and Kamino lending pools, according to a tweet by Solend.

  • NEAR Launches Multichain Access
    NEAR Launches Multichain Access
  • How NEAR Enables Multichain Access From One Account
    How NEAR Enables Multichain Access From One Account
  • DeFi Market Rebounds to $50B as Speculators Hunt for Yield
    DeFi Market Rebounds to $50B as Speculators Hunt for Yield
  • How Spool Is Aiming to Help Institutions Enter DeFi
    How Spool Is Aiming to Help Institutions Enter DeFi
  • A pricing oracle is a source of data that provides asset values for blockchains. Hacks and exploits related to decentralized finance, which is a form of lending that takes place without intermediaries, have surged over the past month. Security firm Chainalysis reported that $718 million had been stolen in the first two weeks of October.

    Solend said the three pools have been disabled and that exchanges have been notified of the exploiter's address.

    Last month, Mango Markets – another Solana DeFi protocol, lost over $100 million in an exploit that manipulated the MNGO price on a pricing oracle before cashing out a nine-figure sum.


    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Oliver Knight

    Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.

    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.