Avalanche Defi Platform Vee Finance Attacked — $35 Million in ETH, BTC Siphoned
On September 21, 2021, an Avalanche-based decentralized finance (defi) platform Vee Finance announced that it suffered from an incident that siphoned 8,804 ether and 213 bitcoin out of the system. The team has suspended the defi platform contracts and stressed that the stablecoins have not been “affected by the attack.” Defi Project Vee Finance Suffers a Loss of $35 Million From Hack The Avalanche (AVAX) blockchain has been a popular network in recent times and it has attracted a number of defi applications like Benqi.fi, Trader Joe, Lydia Finance, Shroom Finance,....
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Vee Finance says it suffered a $35 million attack just a few days after launching the mainnet on Avalanche last week. Decentralized finance (DeFi) platform Vee Finance reported $35 million losses in the latest exploit, just a few days after launching the mainnet on the Avalanche network.After pausing services due to suspicious activity on Sept. 20, Vee Finance confirmed that its platform was under an attack resulting in a loss of 8,804 Ether (ETH) and around 214 Bitcoin (BTC). The total amount is worth more than $35 million at the time of writing.According to the official incident....
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....
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a vulnerability in the design of the Spore token, which allowed the minting of 4.5 billion zabu that were successfully withdrawn from the platform, taking the value of the currency to 0.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....
Mirror Protocol, a DeFi application built on the old Terra blockchain, was attacked by a $90 million exploit in October 2021, and it remained entirely undiscovered until last week. The attacker was able to unlock collateral from the protocol multiple times while just paying a little fee each time. Terra’s DeFi Attacked Seven Months Ago […]
The blockchain company Tether has announced it will make available its stablecoin token as a native asset in Avalanche, a smart contract platform that has picked steam in the last year. Avalanche has a growing decentralized finance (defi) ecosystem, so this launch will most likely improve its state, providing users an official and safe way of parking and staking their assets on Avalanche. Tether to Launch on Avalanche Tether, the company behind the issuance of USDT, one of the most popular stablecoin tokens in the cryptocurrency market, has announced it is in the early stages of launching....