Singapore-Based Polter Finance Upgrades to FailSafe’s Runtime Security After $8.7M DeFi Exploit

17th February 2025 – After suffering a catastrophic $8.7 million exploit in November 2024, Polter Finance, a leading DeFi lending protocol on the Fantom blockchain (now known as Sonic blockchain), has taken decisive action by partnering with FailSafe, a cutting-edge blockchain security provider, to implement real-time threat detection and runtime security—ensuring such an attack never happens again.

The Attack That Shook Polter Finance

In November 2024, Polter Finance fell victim to a price oracle manipulation attack, where an exploiter used flash loans to artificially inflate token prices, allowing them to drain millions in unauthorized loans.

Determined to restore user trust and prevent future exploits, Polter Finance has chosen FailSafe’s real-time risk monitoring platform to protect against on-chain threats, fraud, and smart contract vulnerabilities. Polter Finance will be re-launching on both Sonic and Base blockchains.

FailSafe: DeFi’s Real-Time Security Shield

FailSafe’s runtime security solution is built to detect and neutralize threats before they escalate, addressing the most common attack vectors in DeFi, including:

Flash Loan & Oracle Manipulation – Identifies and mitigates sudden price distortions and liquidity manipulation.

Unauthorized Smart Contract Changes – Monitors for unexpected contract upgrades, admin role changes, and access control breaches.

Suspicious Wallet Activity – Flags interactions with blacklisted addresses, known hackers, and mixing services.

Reentrancy & Privileged Function Exploits – Detects malicious contract calls designed to drain funds.

Automated Threat Response – Triggers instant protective actions, including pausing smart contracts and freezing suspicious transactions.

Polter Finance’s Commitment to Security

“This attack was a wake-up call,” said Polter Finance’s founder, whichghost. “We knew we had to go beyond traditional audits and implement continuous, real-time security. FailSafe’s platform gives us the tools to detect, prevent, and respond to threats instantly—protecting our users and reinforcing our protocol’s resilience.”

“DeFi security must evolve. Hackers don’t wait—why should security?” said Aneirin Flynn, CEO of FailSafe. “The Polter Finance attack is just the latest example of why runtime security is essential.”

About Polter Finance

Polter Finance is a decentralized lending protocol on the Fantom blockchain, enabling users to borrow and lend assets with an innovative, community-driven approach.

About FailSafe

FailSafe is an AI-powered blockchain security platform specializing in real-time risk monitoring and threat mitigation for DeFi protocols, stablecoin issuers, and Web3 projects. By providing continuous security enforcement, FailSafe helps protect digital assets from fraud, manipulation, and exploitation.