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Exploits - Page 11

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Yearn Restores yDAI Vault and Compensates Hack Victims

Yearn Restores yDAI Vault and Compensates Hack Victims

Yearn Finance, the yield aggregator protocol which suffered the first major hack of 2021 last week, is healing, making its Dai savings smart contract available to users again, and compensating victims of its recent hack. Yearn has restored its yDAI vault and returned $9.7M in DAI funds to users who had their stablecoins deposited in…
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Yearn Loses $11M in 2021’s First DeFi Hack

Yearn Loses $11M in 2021’s First DeFi Hack

Yearn Finance, the yield aggregation protocol founded by Andre Cronje, has been hacked. One of the platform’s so-called vaults lost $11M, and the attacker got away with $2.8M.   It’s the first DeFi hack of the year, after $100M worth of attacks in the sector last year, according to a report by Ciphertrace. About half of…
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Insurance Protocol Cover Exploited for $9.4M

Insurance Protocol Cover Exploited for $9.4M

DeFi’s rising insurance protocol Cover Finance was exploited for $9.4M worth of user funds after a group of hackers used a faulty smart contract to mint quadrillions of COVER tokens. Cover Finance allows users to buy smart contract protection on supported DeFi protocols by buying CLAIM tokens that can be redeemed in the event of…
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Flash Loan Attacker Drains $8M From Warp Finance 

Flash Loan Attacker Drains $8M From Warp Finance 

Investors are depositing millions into new DeFi protocols launched by anonymous developers, at times only to be wiped away in a hack.   The latest to suffer that unfortunate fate is Warp Finance.  Promising to be a money market where users can borrow and lend tokens and stablecoins representing liquidity in automated market makers, Warp rapidly…
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Evil Pickle Jars Makes Off with $20M

Evil Pickle Jars Makes Off with $20M

The latest affected project in a series of DeFi exploits is Pickle Finance – an automated yield aggregator with a mission to make stablecoins stable. Over the weekend, a hacker was able to exploit Pickle’s code to transfer $19M worth of Dai to an ‘Evil Jar’, leaving most LP’s in a pickle. The project allows…
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Flash Loan Hackers Drain $16M+ From DeFi Protocols in One Week

Flash Loan Hackers Drain $16M+ From DeFi Protocols in One Week

Hackers were able to drain $16.4 million in ETH and Dai from DeFi projects Akropolis, Value DeFi Protocol, and Origin Protocol using flash loans, just in the past week. Value DeFi Attack An attacker on Value DeFi swapped flash-loaned ETH for DAI and USDT, deposited part of the flash-loaned DAI into Value DeFi’s multi-stablecoin vault. They…
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An Infrastructure Outage Temporarily Broke DeFi

An Infrastructure Outage Temporarily Broke DeFi

Many decentralized finance applications broke down earlier today after a series of unfortunate events resulted in an outage on a key piece of Ethereum infrastructure.  The main lesson of the day is that a *decentralized* financial system shouldn’t be so reliant on a single provider.  Here’s what happened: Developers of Ethereum client Geth —one of…
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Harvest Finance Grapples to Make Users Whole After ~$34M Hack

Harvest Finance Grapples to Make Users Whole After ~$34M Hack

Harvest Finance, one of the latest DeFi projects to ride on the waning yield farming wave, was exploited over the weekend, shortly after its total value locked crossed the $1B mark. The hacker was able to drain $33.8M worth of stablecoins. Users can deposit a variety of stablecoins and governance tokens in the Harvest platform…
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Andre Cronje Diehards Take "Test in Prod" Over The Edge With $15M Hack

Andre Cronje Diehards Take "Test in Prod" Over The Edge With $15M Hack

The latest ‘test in prod’ experiment from Yearn founder Andre Cronje has many degen traders questioning their YOLO nature following a flash loan attack of contracts which hadn’t been officially released to the public yesterday afternoon. Eminence Finance, an NFT gaming ecosystem which was still in development, was exploited by a hacker who stole $15M...
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bZx Hacked for $8M After Security-Focused Relaunch

bZx Hacked for $8M After Security-Focused Relaunch

bZx had relaunched just two weeks ago, highlighting its increased focus on security after attackers were able to make $900k in two exploits earlier this year. Last night, it was exploited once more. The hacker was able to duplicate tokens received in exchange for deposits in the protocol, called iTokens, and then use those iTokens…