Crypto News

DeFi Protocol Grim Finance used for FTM worth $ 30 million

                                                            Der selbstbeschriebene Compounding Yield Optimizer – Grim Finance – hat gemeldet, dass er bei einem Wiedereintritts-Exploit gehackt wurde, bei dem der Angreifer Fantom-Token im Wert von bis zu 30 Millionen US-Dollar swipe.
  • The DeFi-Log brought it to Twitter on Sunday to inform its users about the hack. The team described it as an “advanced attack” in which the perpetrator took advantage of the project’s vault contract over five re-entry loops.
  • This allowed the attacker to forge five additional deposits into a vault and eventually took in FTM worth $ 30 million, according to that address. The hacker has already sent most of the tokens to other DEXs.
  • The team said it temporarily put all of its vaults on hold to “prevent future funds from being compromised” and urged all users to withdraw their funds.
  • According to DeFiLlama, customers have followed Grim Finance’s advice. The total value locked on the DeFi log was close to $ 120 million before the hack, but it’s now down to $ 4 million.

Hello Grim Community,

With a heavy heart we inform you that our platform was exploited by an external attacker about 6 hours ago today. The attacker’s address was identified here with a theft worth over $ 30 million https://t.co/qA3iBTSepb

– Grim Finance (@financegrim) December 19, 2021

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Source: Crypto News Deutsch

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