Agave and Hundred Finance

Agave and Hundred Finance are decentralized finance protocols that provide collateral‑based lending and borrowing services on blockchain networks. Users can lock digital assets as collateral to obtain loans of other cryptocurrencies, such as wrapped Bitcoin, Chainlink, USD Coin, and wrapped Ether. The protocols are designed to operate across multiple chains, with the exploit described occurring on the Gnosis Chain. They serve a global audience seeking access to decentralized lending markets without traditional intermediaries.

The March 14, 2022 security incident resulted in the loss of approximately eleven million dollars worth of various tokens. The stolen assets included wrapped Bitcoin, Chainlink, USD Coin, and wrapped Ether, which were drained through a manipulation of a wrapped Ether contract function. This figure illustrates the scale of funds that were at risk within the protocols at the time of the attack. Following the exploit, Agave and Hundred Finance suspended operations to investigate the breach and secure their systems.

A distinguishing attribute of Agave and Hundred Finance is their reliance on smart contracts to manage collateral and enforce loan terms autonomously. The exploit highlighted a vulnerability in the collateral‑based lending mechanism, showing how repeated borrowing against the same collateral could be engineered. Their deployment on the Gnosis Chain demonstrates a multi‑chain approach, aiming to reach users across different blockchain ecosystems. Their headquarters is located in the United States of America.

The aliases Agave and Hundred Finance refer to two distinct DeFi projects that were jointly impacted by the March 2022 exploit. No explicit information about parent‑company relationships, ownership structure, or subsidiary status is provided in the source material. Consequently, any description of their corporate hierarchy would be speculative and is omitted here.