July 21, 2024

DeFi project Yearn.Finance lost $ 11 million due to hacker attack

The criminal managed to withdraw $2.8 million worth of cryptocurrencyThe YFI token became known after last yearhas risen in price by 130,000% in 1.5 months.

Hackers attacked the Yearn DeFi project.Finance, as a result of which one of its pools lost $ 11 million worth of cryptocurrency. The developers said that the criminal managed to withdraw $ 2.8 million by exploiting the vulnerability. Now the project team is investigating, at this time the deposits in the v1 storage in DAI, TUSD, USDC and USDT are disabled.

The attack took place on the night of February 5.Users began to notice that they were losing coins for an inexplicable reason. After that, the project team announced on their Twitter account that they had found and fixed the vulnerability.

Yearn project.Finance has become famous for the exponential rise in the value of its YFI token last year. The coin appeared in mid-July, at the start of trading it was sold at $ 32. At the beginning of September, the altcoin set a historical maximum value of $ 44 thousand. For a month and a half, the growth was 137,400%.

As of 10:20 Moscow time, YFI is trading at $ 32.4 thousand. Over the past day, the coin has fallen in price by 5%. It ranks 53rd in the list of the largest cryptocurrencies by capitalization.