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anchored·4ofsyF…yXYfSummary
EraLend (formerly Nexon Finance) is a decentralized lending protocol on zkSync Era that suffered a $3.4 million read-only reentrancy exploit on July 25, 2023, draining its USDC pool due to a vulnerability in inherited SyncSwap oracle code. The protocol's pre-hack audit by PeckShield explicitly assumed a trusted price oracle, leaving the vulnerable oracle mechanism unexamined. EraLend relaunched post-hack with a fee-based compensation plan but has seen its TVL decline sharply to approximately $138,000 as of 2025-2026.
Connected Entities
5 entities · 60 linked investigations- Optimism→mentioned with→Arbitrum(65%)
- Optimism→mentioned with→Ethereum(80%)
- EraLend→mentioned with→Merlin DEX(75%)
- EraLend→mentioned with→Optimism(60%)
- EraLend→mentioned with→Ethereum(60%)
- EraLend→mentioned with→Arbitrum(60%)
- Merlin DEX→mentioned with→Ethereum(75%)
- Arbitrum→mentioned with→Optimism(65%)
- Arbitrum→mentioned with→Ethereum(80%)
Timeline(8 events)
9 February 2023
Nexon Finance public testnet launches on zkSync
March 2023
PeckShield audits Nexon Finance; audit assumes a trusted price oracle, leaving oracle mechanism unexamined
April 2023
Nexon Finance goes live on zkSync Era mainnet
20 May 2023
Nexon Finance rebrands to EraLend
25 July 2023
EraLend exploited via read-only reentrancy attack; approximately $3.4M stolen from USDC pool by attacker 0xf1D076c9Be4533086f967e14EE6aFf204D5ECE7a
26 July 2023
EraLend confirms attack, suspends borrowing, advises against USDC deposits; SlowMist engaged for asset tracing
8 August 2023
EraLend separates exploited contract into 'EraLend Classic' and relaunches new protocol without SyncSwap LP pool; 10% recovery reward offered
7 February 2024
EraLend announces partnership with Pyth Network — last known public communication
Decision Log
- slot 422748336 · hash 84xS76fDt98zX39tUv4fubfATHWXr91knWLBj7aYciik
This investigation is cryptographically anchored to the Solana blockchain (1 decision). 10 of 12 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:40 AM
last updated: 8/29/2026, 1:35:52 AM
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