The hack on Fulcrum platform in September 2020 resulted in a loss of approximately $8 million worth of crypto tokens. The attack was carried out by exploiting a vulnerability in the platform’s smart contract code.The hacker was able to manipulate the code to withdraw funds from the platform’s lending pools. The stolen funds consisted of various tokens, including Ethereum (ETH), Wrapped Bitcoin (WBTC), and Chainlink (LINK).Following the hack, Fulcrum took immediate action to mitigate the damage and secure the platform. They paused all lending and trading activities, and initiated an investigation to identify the cause of the vulnerability.Fulcrum also implemented additional security measures to prevent future attacks, including code audits and improvements to their smart contract code. They also enhanced their monitoring systems to detect any suspicious activity.In terms of compensation for affected users, Fulcrum stated that they would be working with their insurance provider to cover the losses. They also mentioned that they were exploring options to reimburse affected users through a token swap or other means.Overall, the hack on Fulcrum was a significant setback for the platform, but they have taken steps to address the issue and enhance their security measures. It serves as a reminder of the risks associated with decentralized finance platforms and the importance of thorough security audits and constant vigilance.

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