DeFi aggregator raided by five hackers on launch day
Four malicious hackers and one white-hat have gone to town on ForceDAO during its launch day. Fledgling decentralized finance protocol ForceDAO has had a rough start, with several incursions from hackers taking place just hours after it launched.The Ethereum-based yield aggregator had only just launched its airdrop campaign on April 3 when four malicious “black-hat” hackers managed to drain a total of 183 ETH worth approximately $367,000 at the time. One friendly "white-hat" hacker alsassisted the team by alerting them to prevent further losses.The team has released a post-mortem of the....
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Executives representing investors Mosaic Ventures and Placeholder have joined Zerion’s board of directors as part of the deal. Ethereum-based DeFi aggregator, Zerion, has raised $8.2 million in a Series A funding round.The non-custodial aggregation platform facilitates access to more than 60 Ethereum-based protocols, such as Aave, Yearn.finance, and Curve. Zerion has processed more than $600 million worth of volume in 2021 so far with a median trade of $1,000.The raise was led by Mosaic Ventures, and also featured participation from Placeholder, Digital Currency Group, and Blockchain.com....
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 […]
In August 2021, hackers attacked a popular decentralized finance protocol Poly Network and stole over $600 million worth of assets only to return them later. Although no damage was caused, it left the DeFi community grasping for breath. The safety of assets in a decentralized framework was always debated, and this cyber attack only proved […]
How does a DeFi aggregator capture value, and what does it mean for the INST token? In a blog post yesterday, decentralized finance (DeFi) management and protocol aggregator platform Instadapp announced the launch of their governance token, INST. While not currently transferable by the average user, the token is set to go fully live later in the year to coincide with a transfer of control over the protocol to a DAO governance process in Q2. The project, which currently counts over $2.3 billion in its 18,000 “Smart Accounts” wallets, connects to a variety of DeFi protocols from a single....
Hackers have stolen $100 million from decentralized finance (Defi) projects so far this year, according to a new report. Defi accounted for 50% of all hacks and thefts in the second half of the year. Defi Hacks on the Rise A new report by cryptocurrency forensics and blockchain threat intelligence firm Ciphertrace shows that $100 million have been stolen from decentralized finance (Defi) this year. The company detailed on Monday: In first six months of 2020, 45% of all thefts were Defi hacks, equating to about $51.5M — 40% of hacked volume for that time period. So far, in second half....