iHodl.com
Main page News, Smart contracts, Stablecoins, Hacker Attack, DeFi
Hot topic
April 13, 2023

Yearn Finance, a decentralized finance for earning yield on crypto, has suffered a hacker attack, losing over $10 million in stablecoins.

Subscribe to our Telegram channel to get daily short digests about events that shape the crypto world

According to the project's Twitter page, the hack was possible due to a misconfiguration in an outdated contract for a tokenized stablecoin. The Yearn Finance team claims the problem "does not impact current Yearn contracts or protocols," adding that the current version of Yearn V2 Vaults "remains unaffected."

Korean Crypto Exchange Gdac Suffers $13M Hacker Attack

Analysts at Lookonchain calculated that the exploiter got $3,032,142 in DAI, $2,579,483 in USDC, $1,785,091 in BUSD, $1,512,528 in TUSD and $1,193,756 in USDT.

Head of Security at Paradigm under alias "samczsun" says the yUSDT smart contract "has been broken since deploy," noting that the contract misconfigured to use the Fulcrum iUSDC token instead of the Fulcrum iUSDT token.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange

Read also:
Strawberry Cake Media Corp. © 2024 Cookie Policy Editorial team Archive

ihodl.com is an illustrated edition about cryptocurrencies and financial markets.
Every day we publish the best materials for everyone interested in economy.