Sturdy Finance

Sturdy Finance, also known by its alias, is a financial technology organisation headquartered in the United States of America. The organisation operates an Ethereum‑based lending market that allows users to supply and borrow Ether through its protocol. As a protocol, it facilitates decentralized lending and borrowing activities for Ethereum holders. Its primary market serves participants in the cryptocurrency ecosystem who seek yield on their Ether or liquidity against it.

On June 12, 2023, Sturdy Finance experienced a security exploit in which an attacker manipulated the price of a cryptocurrency via a vulnerability in the platform’s code. The exploit resulted in the loss of 442 ETH from the organisation’s ETH lending market, amounting to a total protocol loss of 504 ETH. Upon detection, the protocol was immediately paused to prevent further losses. The team has stated that it is working to make all affected users whole. To encourage the return of the funds, Sturdy Finance offered a bounty for the recovery of the stolen assets. In addition, the organisation is coordinating with security experts and law‑enforcement agencies to investigate the incident. These actions highlight the organisation’s focus on security responsiveness and user protection within its lending service. The incident also underscores the specialised nature of Sturdy Finance’s offering, which is centred exclusively on Ethereum lending and borrowing.