PANews reported on February 5 that according to an official announcement from Ionic, the Mode-based Ionic platform was hacked, and hackers used unofficial fake LBTC (Lombard BTC) as collateral for lending on the Ionic platform. The team is investigating. According to monitoring by security company QuillAudits, the estimated loss of this attack is about $8.8 million.

On-chain detective ZachXBT said: Ionic's predecessor was the Midas protocol. Midas suffered two hacker attacks in 2023, but the Ionic project used the old audit report of Midas in 2022 when it was launched. In this regard, ZachXBT sent a private message to the team to question the security of Ionic's contract. The team said that their code base was based on the Compound fork, and the vulnerabilities in Midas were caused by known vulnerabilities in the Compound code. These problems have been fixed by implementing whitelists and reentrancy attack circuit breakers in the new pool, emphasizing that Ionic is very safe.