Defrost Finance Hacked in Attack Some Say May Have Been a Rug Pull

protocol Defrost Finance said it was hacked Dec. 23, though blockchain security firm Peckshield, citing “community intel,” said the exploit may have been a rug pull that made off with $12 million.

In a tweet thread posted Dec. 25, the Defrost team said a first attack used a flash loan to drain funds out of its V2 product. A second larger attack used the owner key to exploit V1. The protocol, which offers leveraged trading on the Avalanche blockchain, didn’t say how much had been taken.can occur when developers create and establish a liquidity pool and then remove the funds after investors have bought the related token.

DeFiYield, which offers a security layer for smart contracts to help investors avoid getting scammed or hacked alongside a cross-chain digital asset management platform, said it conducted an audit of Defrost Finance a year ago, and highlighted the smart contract vulnerability used in the hack., according to a report by Chainalysis. Rug pulls accounted for 37% of the over $7.7 billion in total illicit revenue from crypto scams that year.

Defrost_Finance sheldonreback Another hack. I'm sick of it already

Defrost_Finance sheldonreback How many scam tokens were deployed in 2022 through Dec. 1, according to Solidus Labs?

Defrost_Finance sheldonreback What percentage of total illicit revenue from cryptocurrency scams in 2021 was attributed to rug pulls?

Defrost_Finance sheldonreback Will the people behind the attack on Defrost Finance negotiate the return of the stolen funds?

Defrost_Finance sheldonreback Lol they give themselves 20% of total hack value = + 2 million dollar 🤡💰

Defrost_Finance sheldonreback Why did the total value of funds locked on Defrost Finance drop so significantly after the attack?

Defrost_Finance sheldonreback How can investors protect themselves from rug pulls in the cryptocurrency industry?

Defrost_Finance sheldonreback How effective is DeFiYield's security layer in protecting investors from scams and hacks?

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Defrost_Finance sheldonreback This is a new one

RogerJUlrichJr Defrost_Finance sheldonreback This article makes it sound like Sheldon did the rug pull

Defrost_Finance sheldonreback Is the use of rug pulls on the rise in the cryptocurrency industry?

Defrost_Finance sheldonreback Wow, with FTX/SBF saga is hogging up all the headlines last week I didn’t hear anything about this one.

Defrost_Finance sheldonreback Was the smart contract vulnerability used in the hack identified by DeFiYield in their audit of Defrost Finance a year ago?

Defrost_Finance sheldonreback السلام عليكم صديقي يمكنك كسب ما يصل إلى 100٪ - 500٪ عوائد يومية فورية وعقود مستقبلية من خلال إشاراتي المربحة اليومية على كل عملة مشفرة ، أعطي 50-70 إشارة شهريًا بمعدل نجاح 90-95٪. أتمنى أن تنضم إلى قناتي المجانية على برقية انقر على الرابط

Defrost_Finance sheldonreback Was Defrost Finance truly hacked, or was it a rug pull?

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