Sonne Finance confirms attack, but still has about $6.5 million in funds

On May 15th, Sonne Finance announced that its Optimism protocol had suffered a known donation attack, resulting in a loss of approximately $20 million. The attack exploited a vulnerability in the newly launched market and within two days of its creation, the attacker used a multi-signature wallet and time-lock function to execute critical transactions, successfully manipulating the market's collateral factors (c-factors). Despite Sonne's team quickly organizing a response to the attack and suspending the market within 25 minutes of discovering the issue to minimize further losses, approximately $6.5 million in funds were still retained. Sonne's team is working hard to track down the identity of the attacker and has offered a bounty to the attacker in the hopes of returning the funds to avoid further investigation. At the same time, Sonne's team sincerely apologizes for this incident and is reaching out to all possible partners to try to recover the funds.