Ionic, a platform based on Mode, was hacked, losing about $8.8 million

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According to ChainCatcher news, security firm QuillAudits has detected that the Ionic platform based on Mode has been hacked, with the hackers using unofficial fake LBTC (Lombard BTC) as collateral on the Ionic platform for lending. The team is currently investigating. The estimated loss from this attack is around $8.8 million.

Blockchain investigator ZachXBT commented on this incident: Ionic's predecessor was the Midas protocol, which had been hacked twice in 2023, yet the Ionic project launched using the old 2022 audit report of Midas.

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