Belt Finance loses millions in latest BSC-based DeFi exploit
Another day, another BSC DeFi protocol gets hacked. Belt Finance has become the latest Binance Smart Chain-based decentralized finance, or DeFi, protocol to lose millions to an opportunistic hacker.The Rekt Blog, which post mortems DeFi exploits, stated that an attacker exploited a flaw in the way the protocol’s vaults calculates the value of its collateral which helped to “add another notch to the now infamous flash loan exploit season on the BSC,” adding:“Yet another fork of a fork has rolled off the conveyor belt with $6.3M falling straight into the hands of the hacker.”Rekt revealed....
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Zabu Finance, a decentralized yield farming protocol on Avalanche, suffered the first big hack related to the chain. The protocol was the victim of an exploit that allowed an attacker to steal $3.2 million in tokens, according to reports. The core of the exploit happened due to a vulnerability in the design of the Spore token, which allowed the minting of 4.5 billion zabu that were successfully withdrawn from the platform, taking the value of the currency to 0.
Zabu Finance Suffers First Big Avalanche Hack
Zabu Finance, a yield farm decentralized protocol built on top of the Avax....
Belt Finance, a Binance Smart Chain-based decentralized lending protocol, lost $6.3 million in a flash loan attack last week. The attackers took advantage of a series of inefficiencies in the smart contract to manipulate the price of the set and obtain profit from a series of transactions. This is just the last of a series of attacks that seem to be pointing to Binance Chain protocols due to their vulnerabilities. Belt Finance Loses $6.3 Million in Flash Loan Attack Belt Finance, a borrowing and loaning protocol that operates in the Binance Smart Chain suffered a flash attack last week....
According to the decentralized finance (defi) protocol Crema Finance, the application was hacked on July 2, 2022. A Twitter account called “Solanafm” says the defi protocol lost around $8.7 million from the attack.
Crema Finance Vulnerability Causes Defi App to Lose Millions — 6 Flashloans Executed
Another defi protocol has lost funds to a hacker as the Solana liquidity application disclosed it was attacked on Saturday, July 2, 2022.
“Attention,” Crema Finance wrote on Saturday. “Our protocol seems to have just experienced a....
The Cream Finance hacker gained $18.8 million by exploiting a reentrancy bug in the AMP token in a set of 17 transactions. Cream Finance, a major decentralized finance (DeFi) protocol focused on lending, has suffered a major exploit, with a hacker stealing nearly $19 million from its platform.An unknown hacker has managed to gain $18.8 million in the latest flash loan exploit of the Cream Finance protocol through a reentrancy bug introduced by the Amp (AMP) token, according to an investigation by blockchain security firm Peckshield.Announcing the news Monday, Cream Finance said that the....
On Monday, the Polygon-based decentralized exchange (dex) Quickswap lost $220K in a flash loan exploit and following the attack, the team detailed the Quickswap Lend platform will be terminated. Quickswap Hacked for $220K, Dex Project Sunsets Lending Platform 2022 has been quite the year for decentralized finance (defi) hacks as billions have been stolen due to mistakes, flash loans, faulty smart contracts, and unchecked lines of code. On October 24, Quickswap explained that the Market XYZ lending market was compromised for $220,000. “Quickswap Lend is closing,” the team’s Twitter account....