The Mode-based Ionic platform was hacked, resulting in a loss of approximately 8.8 million dollars

ChainCatcher message, according to security company QuillAudits monitoring, the Mode-based Ionic platform has been hacked, with hackers using unofficial fake LBTC (Lombard BTC) as collateral for lending on the Ionic platform. The team is currently investigating. The estimated loss from this attack is about 8.8 million dollars.

On-chain detective ZachXBT commented on the matter: Ionic is the successor to the Midas protocol, which had experienced two hacks in 2023, while the Ionic project launched using an old audit report from Midas in 2022.