Yearn Finance piraté, 11 millions de dollars volés
Hackers broke into Yearn Finance's yDAI repository. The team quickly fixed the problem, but the loss amounted to 11 million in YFI tokens
The interest in DeFi projects and the big money spinning in the decentralized finance industry lead to frequent hacks. In 2020, about one hundred million dollars was lost due to the actions of hackers. This is almost 20% of all such losses.
Interestingly, attackers will not be able to take full advantage of the fruits of their labor. More than $8 million was spent on hacking.
The fraudster took a couple of flash loans from dYdX and Aave, and then obtained a loan from Compound using the previously borrowed funds as collateral. As a result, he managed to get only $2.7 million in net profit.