According to a report by PeckShield on the X platform, Onyx has fallen victim to a significant exploit stemming from a known precision issue in its forked CompoundV2 codebase. Attackers leveraged this vulnerability to steal a substantial amount of funds, including 4.1 million VUSD, 7.35 million XCN, 5,000 DAI, 0.23 WBTC, and 50,000 USDT.

The precision flaw in the CompoundV2 code has been recognized in the past, raising concerns about its security. Unfortunately, it appears that Onyx did not rectify this issue in its implementation, leaving the platform open to exploitation. The range of stolen assets highlights the widespread implications of the breach and the serious financial consequences for Onyx.

This incident serves as a critical reminder of the necessity for comprehensive auditing and security measures, particularly when utilizing code from established projects. The financial losses experienced by Onyx underline the inherent risks within the DeFi sector and the urgent need to ensure the integrity of codebases to safeguard user funds against similar exploits. As the landscape continues to evolve, vigilance and proactive security practices remain paramount for all DeFi projects.