DeFi is “flourished by human greed,” according to a developer for the exploited project. There may be good news on the horizon for the victims of one of DeFi’s largest-ever exploits. At 5:30 AM UTC today, a Meerkat Finance developer identifying themselves as “Jamboo” posted a short message in a newly-created Telegram channel, “Meerkatrefunds.” In…
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After an attack at one point worth nearly $180 million, community members are left wondering if the exploit is a “rugpull” or a security lapse. Paid Network, a DeFi platform aimed at real-world businesses, has been exploited today in an “infinite mint” attack that has sent PAID token prices plunging upwards of 85%. While the…
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Users now need to ask: how many more protocols are at risk? At roughly 9 am UTC today Meerkat, a decentralized finance (DeFi) protocol on Binance’s smart contract platform, lost $31 million worth of BNB tokens. While the team initially claimed that they had been the victim of an exploit, they have since deleted all…
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The latest attack relied on user permissions granted to the protocol The latest “evil contract” exploit has netted an attacker over $14 million in stolen funds. Furucombo, a tool designed to help users “batch” transactions and interactions with multiple decentralized finance (DeFi) protocols at once, fell victim to the attack at roughly 4:45 pm UTC,…
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Though a “prime suspect” has been identified, how will the protocol make itself whole? In one of the largest exploits of the DeFi era, this morning an attacker successfully drained over $37 million from Alpha Homora by leveraging Cream’s Iron Bank protocol-to-protocol lending platform. Alpha Finance Lab, whose protocol was audited by Quantstamp and Peckshield,…
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Co-founder Josh Fraser said he hopes the compensation plan will help build trust among users as the project moves forward. Origin Protocol, a DeFi stablecoin project, will begin accepting claims from users who were affected by a $7 million exploit that occurred back in November 2020. According to a blog post from Origin on Jan.…
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In a promising sign for the DeFi space, another project devotes itself to complete user compensation following an exploit In a blog post on Saturday night, Warp Finance — the latest decentralized finance (DeFi) protocol to suffer a smart contract exploit — announced promising strides towards recompensating users following a nearly $8 million flash loan…
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The Uniswap rival manages to fend off an attack in a matter of hours. As exploits and hacks run rampant across the DeFi ecosystem, at least one project appears to have fended off the worst of an attack — the once-maligned “vampire” AMM (automated market maker) exchange Sushiswap. Observers noticed last night that Sushiswap —…
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After a boast about the protocol’s resiliency, Value DeFi loses $6 million to flash loan exploit. Following a Twitter thread on Friday that highlighted the decentralized finance protocol’s flash loan exploit prevention methodology, Value DeFi appears to have been the victim of a $6 million flash loan exploit. At roughly 10:45 AM EST, a user…
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