It has been discovered that the recent hack of Paribus_io Defi Protocol has resulted in a total loss of approximately $100,000. It has revealed that the root cause of the breach is a known reentrancy issue originating from a forked, older version of CompoundV2.
https://arbiscan.io/tx/0x0e29dcf4e9b211a811caf00fc8294024867bffe4ab2819cc1625d2e9d62390af
This incident is a stark reminder of the importance of staying up-to-date with the latest security protocols and regularly updating software to ensure vulnerabilities are addressed. Reentrancy attacks, in particular, are a serious threat to the security of smart contracts, and it is crucial for developers to understand how to identify and mitigate them.
