and drained of $455,000 worth of crypto. A preliminary report from blockchain security firm Peckshield stated that the attacker had used a “lack of untrusted input validation” in the app’s contracts to drain the funds. The Arcadia team had denied this, stating that Peckshield’s analysis was mistaken. However, the team did not explain what they thought the cause was at the time.
The attacker deposited the $103,210 into the vault, bringing the total funds to $123,882. They then withdrew all funds, leaving the vault with no assets and $103,210 in debt.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
DeFi protocol Arcadia Finance hacked on Ethereum and Optimism for $455kWhile the investigations are underway, Arcadia’s code houses another vulnerability, which could prove catastrophic for the protocol if exploited. PeckShield reveals the cause of Arcadia Finance hack. The code did not validate untrusted inputs. Hacker drained $455K from darcWETH and darcUSDC vaults.
Source: Cointelegraph - 🏆 562. / 51 Read more »
Parliamentary report recommends Canada recognize, strategize blockchain industry“Canada punches above its weight” in blockchain innovation, parliamentarians conclude, but lots more should be done to encourage the industry.
Source: Cointelegraph - 🏆 562. / 51 Read more »
Ex-Army Finance Counselor Swindled Gold Star Families, U.S. SaysA former U.S. Army financial counselor used his position to bilk two dozen dead service members’ families out of life insurance and other benefits by steering them to investments on which he was secretly reaping hefty commissions, federal prosecutors said Friday. The former counselor, Caz Craffy, was charged with wire and securities fraud and other crimes for what prosecutors said was a scheme that cost the Gold Star families — immediate relatives of service members who died while serving — $3.4
Source: YahooNews - 🏆 380. / 59 Read more »
France upbeat on attracting major Tesla investment, finance minister saysFrench Finance Minister Bruno Le Maire on Sunday said he was 'very hopeful' Tesla Chief Executive Elon Musk will pick France for a substantial investment linked to the production of electric vehicles in Europe.
Source: Reuters - 🏆 2. / 97 Read more »
Turkey aims to ensure fiscal discipline and lower budget deficit, finance minister saysTurkey is taking measures to re-establish fiscal discipline and control the level of the budget deficit, Finance Minister Mehmet Simsek said on Sunday.
Source: Reuters - 🏆 2. / 97 Read more »