Decentralized Lending Network Ola Finance Hacked, Hackers Make About $3.6 Million in Profits

PeckShield tweeted that decentralized lending network Ola Finance was hacked and lost about $3.6 million. Due to incompatibilities between the Compound fork and ERC677/ERC777 based tokens, these tokens had built-in callback functions that were abused by hackers to allow reentry and deplete the lending pool.