DeFi Platform TrustedVolumes Hit By $6.7M Hack As 2026 Exploits Surge
Another multi-million-dollar attack has hit the DeFi sector after liquidity provider and market maker TrustedVolumes fell victim to a smart contract exploit on Thursday night. Related Reading: Solana Eyes New Leg Up After Triangle Breakout – Is $96 The Next Stop? TrustedVolumes Hit By $6.7M Hack On Thursday, DeFi platform TrustedVolumes, one of 1inch liquidity providers and market makers, suffered a new exploit that drained millions of dollars in multiple assets from the project. According to reports from blockchain security firms PeckShield and Blockaid, the attacker stole approximately....
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DeFi exploits have been the order of the day since the space began to gain prominence. For a relatively new space, this is not surprising that protocols have succumbed to exploits. However, the pace and the number of exploits that have since been hacked have been alarming. 2021 saw a new record in funds stolen […]
2022 is a rough year for the DeFi ecosystem as hackers continue exploiting the community. From the beginning of the year till now, news of DeFi protocol exploits keeps flooding the crypto industry. So the question is: why do hackers keep targeting decentralized finance protocols? Today’s report reveals that three DeFi protocols have suffered hack […]
According to a research report, $1.3 billion in digital currencies have been stolen during the first quarter of 2022. The study, published by cryptomonday.de researchers, further highlights that 97% of the stolen funds derived from decentralized finance (defi) protocol exploits. Defi Exploits Account for Lion’s Share of Stolen Crypto This Year 2022 is already breaking records in terms of stolen cryptocurrencies from hacks and exploits. Last year, $3.2 billion in digital currencies were stolen and so far, 2022 has recorded over 40% of 2021’s aggregate during the first quarter....
Decentralized finance otherwise known as defi has climbed significantly in value this year, as the total value locked (TVL) in defi today is over $14 billion. Meanwhile, numerous defi platforms are getting attacked with flash loans and there are so many new defi projects, it’s hard to keep track of them all. Moreover, while many defi supporters claim these platforms offer greater privacy, examples now show that most everything can be seen onchain connecting ethereum addresses to identities and companies. Exploits and Flash Loans Are Becoming Commonplace in the Land of Decentralized....
Cream finance, a defi borrowing and lending protocol, has been the victim of a hack that erased more than $29 million from its vaults. The attacker took advantage of a loophole in the implementation for adding the amp token to the protocol. This is the second time the platform has been involved in a hack. The first breach happened in February, when Cream lost $37.5 million.
Cream Protocol Suffers Hack
Cream protocol, a defi lending-borrowing platform present on four different chains (Ethereum, BSC, Polygon, and Fantom), suffered a hack Monday that resulted in the loss of $29....