Value DeFi protocol suffers $6 million flash loan exploit
After a boast about the protocol's resiliency, Value DeFi loses $6 million to flash loan exploit. Following a Twitter thread on Friday that highlighted the decentralized finance protocol’s flash loan exploit prevention methodology, Value DeFi appears to have been the victim of a $6 million flash loan exploit. At roughly 10:45 AM EST, a user took out a flashloan of 80,000 ETH (over $36 million) from lending protocol Aave. Aave developer Emilio Frangella immediately called attention to the loan:80.000 eth flashloan on @AaveAave https://t.co/ngnHIoNKpi— Emilio Frangella (@The3D_)....
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The OUSD stablecoin issuer, Origin Protocol is the latest Defi protocol to fall victim to a flash loan attack. The attack, which occurred in the early hours of Tuesday, on November 17, resulted in the disappearance of tokens worth millions of dollars. Confirming the attack, one of the project’s leaders say they are now working with exchanges in order to identify the attacker, as well as to freeze the tokens before they are liquidated. Funds Located The Origin Protocol attack follows a similar incident at Value Defi on November 14 where the criminals stole $6 million worth of tokens.....
A decentralized finance (defi) protocol that bragged about having flash loan attack prevention has been exploited for $6 million in DAI, in a flash loan attack. Value Defi, a yield aggregating protocol, boasted of having the “highest security” in a Nov. 13 tweet that now appears to have been deleted. The protocol claimed that its technology was capable of preventing flash loan attacks. Hardly a day later, hackers plundered Value Defi’s multi-stablecoin vault of a total of $8 million of the stablecoin DAI. The attacker returned $2 million to the protocol and pocketed $6....
The latest flash loan attack in the decentralized finance world has caused a total loss of $6 million.
Another Binance Smart Chain project was exploited by a flash loan attack, with DeFi platform BurgerSwap being the victim this time. According to a twitter post written by the Burgerswap Team, there were approximately $7.2 million in funds lost from the exploit. The current total loss is around $7 million and we will strive to […]
Ethereum defi protocol Cream Finance suffered an exploit yesterday that allowed attackers to steal $130 million from its holdings. The news was first revealed by Peckshield, a blockchain analytics company that discovered a flash loan had exploited the platform. This is the third hack the protocol has suffered in its history, being exploited for $36 and $29 million before, respectively.
Cream Finance Hacked Yet Again
Cream Finance, an Ethereum-based lending and borrowing protocol, suffered an exploit that allowed the hackers to steal $130 million worth of ether and ERC-20 tokens.....