Flash loans

Code Bug Enabled Flash Loan Attack

DeFi lending protocol C.R.E.A.M. Finance is launching a protocol-to-protocol flash loan product through its Iron Bank, with the aim to increase capital efficiency and expand the scope of decentralized finance. DeFi protocols will now be able to take out flash loans ––uncollateralized loans that need to be repaid at the same block that they are…

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…

After five attacks and millions of dollars lost due to an exploit, this week we’re diving deep into the mechanism behind what made this possible: Flash Loans. Some called it a magnificent attack, some called it art. But there are other important questions to be asked: were the flash loan attack prevention, fake token attack…

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…

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…