Hackers Target Li Finance And Get Away With $600,000 In A Recent DeFi Hack
Li Finance smart contract contains a bug that the hacker exploited to access and steal the user’s money. We learned that this amount came from 29 users’ wallets, and since it happened yesterday, the protocol has reimbursed some of the money. One of the alarming trends in the crypto sector is exploits, hacks, and attacks […]
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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 […]
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....
Hackers, for the most part, usually target institutional crypto investors and exchanges. But since the adoption of cryptocurrencies like Bitcoin became more mainstream, these hackers started targeting small individual investors. Related Reading | Hackers Are Now Trying To Steal Crypto Via Malicious NFTs They hack random people through SIM swaps or switching a phone number from […]
Decentralized finance (DeFi) platforms have been the target of criminal attacks this year. Investors in the blockchain-based form of finance have lost billions of dollars to criminals that target the platforms. The total amount of money deposited at DeFi services has spiked from just $500 million in 2019 to $247 billion this year. Related Reading | Dog-Themed DeFi Project Mysteriously Loses Fundraised $60 Million According to a report from London-based firm Elliptic, the overall losses caused by DeFi exploits have totaled $12 billion in the past year. Out of that amount, fraud and....
Following the recent Curve Finance attack, Binance CEO Changpeng Zhao announced that the exchange had recovered $450 million from hackers. The decentralized finance (defi) platform Curve saw roughly $570 million siphoned from the application on August 9. Binance Boss Says Exchange Froze 83% of the Curve Finance Hack Funds, Domain Provider Says Exploit Was DNS Cache Poisoning Four days ago, the crypto community was made aware that the Curve Finance front end was exploited. Curve fixed the situation but $570 million was removed from the defi protocol. The attackers, however, decided to send....