$6,000,000 Drained From Crypto Platform In 'Flash Loan' Exploit

The Lazy Summer Protocol operated by Summer.fi has paused all vaults and set deposit caps to zero across networks after an active exploit was identified. According to blockchain security firms PeckShieldAlert and CertiKAlert, the protocol has been exploited for around $6 million. CertiK reports that the hacker exploited the protocol’s flash loan smart contracts, enabling a redemption of $70.9 million following a $64.8 million deposit. PeckShield also noted that total losses from cryptocurrency hacks and scams in 2025 reached $4.04 billion, a 34.2% increase from $3.01 billion in 2024, with direct hacks/exploits accounting for $2.67 billion and scam-related activity for $1.37 billion.

Source: https://dailyhodl.com/2026/07/07/6000000-drained-from-crypto-platform-in-flash-loan-exploit/