DeFi Protocol Sparks Speculation Of $16 Million Rug Pull After Severing Lines...
DeFi protocol, Hector Network, has closed its official Discord server, leaving many investors in the dark. The move comes amidst growing suspicions of a $16 million rug pull engineered through a so-called hard rug, a process where funds are quickly moved, leaving investors with shitcoins. This comes after a controversial rage-quit vote organized by the project’s DAO. DeFi Protocol Hector Network Leaves Investors In Limbo Hector Network investors woke up to the news that the DeFi protocol had cut off communications on its official Discord server. The Discord server was the only means of....
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Dogecoin is grabbing headlines and speculation from its wide community of investors after a recent whale accumulation from a crypto exchange. On-chain data shows an accumulation trend from this whale, with the latest being the acquisition of 300 million DOGE tokens worth $45 million at the current market price. These speculations have led to theories […]
Magnate Finance, a DeFi lending protocol on the Ethereum layer-2 network Base, is reported to have conducted a rug pull, robbing its users of $6.4 million worth of assets. This event represents the latest troubling incident on the Base network in merely a month of its official mainnet launch. Related Reading: BALD Deployer Moves Proceeds Of The Rug From Base To Ethereum 3 Rug Pulls, $16.7 Million Lost – Who’s Responsible? On Friday, August 25, blockchain security intelligence Peckshield confirmed Magnate Finance’s rug pull, stating that the project developers manipulated the....
Another decentralized finance (DeFi) protocol has fallen prey to an exploit. The Harmony protocol had been gaining popularity among DeFi users over the last year as the DeFi space bloomed. But it has now suffered the same fate as many protocols in the space. On Friday, the protocol announced that it has been the victim […]
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....
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....