Summer.fi suffers $6M loss in hack

DeFi protocol Summer.fi has been exploited for approximately $6 million on its Ethereum-based yield farming platform. In response, the protocol has suspended all of its 'Lazy Summer' vaults. The attacker reportedly manipulated the accounting logic of the automated USDC vaults using a large-scale flash loan sourced through Morpho. The value of the protocol's governance token, SUMR, has plummeted by over 18% following the incident.