Akropolis DeFi protocol 'paused' as hackers get away with $2M in DAI
Blockchain records show the hackers got away with more than $2,051,159 in DAI before moving the funds to a different address. Hackers were reportedly able to exploit savings pools at Gibraltar-based decentralized finance protocol Akropolis, getting away with more than $2 million in stablecoins. The firm stated on Twitter on April 12 that it had identified a hack “executed across a body of smart contracts in the savings pools.” Akropolis said the areas targeted by the hackers had already been audited twice, and only included “Curve Y and Curve sUSD savings pools.”Ethereum blockchain records....
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Decentralized finance (defi) protocol Akropolis was on Thursday hacked for $2 million in DAI, in the latest flash loan attack to hit the nascent defi industry. The attacker pilfered the platform’s Ycurve pool in batches of $50,000 in the stablecoin DAI. This particular pool allows investors to trade stablecoins and earn interest. In a statement on Nov. 12, Akropolis revealed that the hack was executed across a body of smart contracts in its “savings pools”. “At ~14:36 GMT we noticed a discrepancy in the APYs of our stablecoin pools and identified that ~2.0mn DAI had....
Akropolis says calling it a merger “is a bit of a misnomer.” Yearn.finance announced on Monday yet another merger, this time with Akropolis, a multiproduct decentralized finance protocol featuring yield optimization and undercollateralized loans.Like the Cream Finance merger announced last week, the two ecosystems will remain largely independent in terms of their tokens and overall product lines, a shared announcement clarifies. However, like with Pickle Finance, Akropolis will now integrate Yearn vault technology and will publish its yield farming strategies on its Vault V2 platform.The....
Decentralized finance (defi) protocol Pickle Finance was hacked for $19.7 million of the stablecoin DAI over the weekend, as the defi industry appears to be turning into a hackers paradise. Pickle’s native token (PICKLE) plunged 62% on the news, falling from $23.27 to $8.70 when the hack was first reported on Nov. 21. At the time of writing, the token has since rebound 29% in 24 hours to $18.51, according to Coingecko data. This is the fourth hack to hit the defi space in just two weeks. Akropolis, Value Defi and Origin protocol were exploited for a combined total of $15.7 million in....
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 […]
DeFi investigator BlockSec’s monitoring system detected a loss of more than $80 million — citing the root cause as a typical reentrancy vulnerability. Decentralized finance (DeFi) platform Fei Protocol offered a $10 million bounty to hackers in an attempt to negotiate and retrieve a major chunk of the stolen funds from various Rari Fuse pools worth $79,348,385.61 or nearly $80 million.On April 30, Fei Protocol informed its investors about an exploit across numerous Rari Capital Fuse pools while requesting the hackers to return the stolen funds against a $10 million bounty and a ‘no....