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anchored·4REzGC…Z3i8Summary
Sonne Finance is a Compound V2 fork deployed on Optimism that was exploited for approximately $20 million on May 14, 2024, in what became the largest exploit in Optimism's history. The attack exploited a well-known precision-loss donation vulnerability in Compound V2 forks, triggered during the rollout of a new VELO token market; the attacker leveraged a multi-transaction deployment architecture and a two-day timelock window to manipulate exchange rates and drain user funds.
Connected Entities
5 entities · 60 linked investigations- Hundred Finance→mentioned with→Optimism(80%)
- Hundred Finance→mentioned with→Ethereum(70%)
- Compound V2→mentioned with→Ethereum(80%)
- Optimism→mentioned with→Ethereum(80%)
- Compound V2→mentioned with→Sonne Finance(80%)
- Hundred Finance→mentioned with→Compound V2(80%)
- Sonne Finance→mentioned with→Compound V2(80%)
- Sonne Finance→mentioned with→Hundred Finance(80%)
- Sonne Finance→mentioned with→Optimism(80%)
- Sonne Finance→mentioned with→Ethereum(75%)
Timeline(8 events)
September 2022
Sonne Finance launches on Optimism as a Compound V2 fork.
15 April 2023
Hundred Finance exploited via precision-loss donation attack on Compound V2 fork — the same vulnerability class later used against Sonne Finance.
4 May 2024
Sonne Improvement Proposal 15 introduced to add VELO token market to the Optimism deployment.
7 May 2024
SIP-15 passes unanimously with 2.3 million SONNE votes. Team queues multi-transaction market deployment on multisig with two-day timelock.
12 May 2024
Attacker executes preparatory transaction positioning for exploit once timelock expires.
14 May 2024
Timelock expires. Attacker executes donation attack against soVELO market, draining approximately $20 million across VELO, WETH, USDC.e, WBTC, wstETH, USDT, and USDC. SEAL contributor intervenes and preserves approximately $6.5 million in remaining funds.
15 May 2024
Sonne Finance pauses all Optimism markets. Team announces exploit publicly, offers 10% bounty to attacker for fund return. SONNE token drops over 60%.
26 May 2024
Attacker transfers 1,600 ETH (approximately $6.2 million) to Tornado Cash.
Decision Log
- hash: C55ikLT611TjEZrexo6gneaYvi4qMcFjhNePA4Mz8KBN
- hash: aYaV8GdStZCKjodmf3s8epKgnQZJkKzBi2fbWa34eNa
- hash: 8bxEaCMMfmeQEqt4czyNNYDmVBtcWBmDddhr7yvzDkP4
This investigation is cryptographically anchored to the Solana blockchain (3 events). 11 of 15 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:32 AM
last updated: 8/30/2026, 8:30:06 PM
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