The assailant swapped $1.75 million worth of Ethereum 80 RenBTC, according to data provided by smart contract auditing firm PeckShield.with vulnerabilities create lucrative arbitrage opportunities for hackers who can borrow plenty of funds without collateral with the help of flash loans. The entire flash loan takes place within a single transaction, which makes it a novel concept. The high complexity of such loans makes them an attractive tool for bad actors.protocol was drained of $136 million.
A Twitter user quipped,"If Cream Finance was a cat, they are down to five lives if my math is correct." At this point, many users are wondering why the protocol still has many users after numerous crippling hacks.
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Source: CNBC - 🏆 12. / 72 Read more »