Era Lend

Era Lend is a decentralized lending application built on the zkSync layer‑2 scaling solution for Ethereum. It allows users to supply and borrow various crypto assets, earning interest on deposits and paying interest on loans. The protocol operates via smart contracts that automate lending and borrowing without intermediaries. Its primary market consists of participants in the decentralized finance ecosystem who seek yield or liquidity on the zkSync network.

The protocol was active enough to hold sufficient funds to be exploited for $3.4 million, indicating a non‑trivial amount of locked value at the time of the incident. Era Lend focused on providing lending services specifically within the zkSync ecosystem, aiming to leverage the network’s low fees and high throughput. The protocol’s design included read‑only functions that, due to a reentrancy vulnerability, could be manipulated to report outdated asset prices, enabling the attacker to drain funds. The exploit also affected the USDC+ stablecoin issued by Overnight Finance, showing cross‑protocol impact. In response, the Era Lend team paused its zkSync contracts to halt further losses.

The organization is headquartered in Brazil, as indicated in the provided context. No information about parent companies, subsidiaries, or ownership structure is available in the source material. Therefore, details about governance, funding sources, or corporate affiliations remain unspecified.