Hundred Finance loses $7 million in Optimism hack

Flash loan attacks take place when a hacker borrows a large amount of funds via a flash loan from a lending protocol. The hacker then combines it with other techniques to manipulate the price of an asset on aIn Hundred's case, the attacker manipulated the exchange rate between ERC-20 tokens and hTOKENS, allowing them to withdraw more tokens than originally deposited, according to Certik.

"The exchange rate formula was manipulated through Cash value. Cash is the amount of WBTC that the hBTC contract has. The attacker manipulated it by donating large amounts of WBTC to the hToken contract so that the exchange rate goes up." Certik says that large loans were taken out under the manipulated exchange rate. Hundred Finance is preparing a postmortem report on the incident.exposed to another exploit on the Gnosis Chain

. At that time, the hacker drained all the protocol's liquidity through a re-entrancy attack. Over $6 million was lost. In the same exploit, the hacker also stole funds from the Agave protocol. Since last year, a number of perpetrators have used flash loan attacks to target DeFi protocols. Recent cases include attacks against Euler Finance (

Have you ever been rugged, or a part of a farmed project? Check The first ever Crypto Insurance Policy! SRGpolice SRG20 SRG SurgeArmy Safemoon insurance Rugs SafetyFirst

altgems pepa_inu the coolest and most authentic meme token with lot of utilities, came to be the next shiba. More than 340x of launch MC. PepaInu to the moon

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

This Week in China: Stimulus Optimism Is Fueling Market LeverageChina’s equity and bond investors are keeping their fingers crossed that Beijing maintains its efforts to bolster the economy.
La source: economics - 🏆 71. / 68 Lire la suite »

Meet the woman who may revamp climate finance for vulnerable nationsBarbados' Mia Mottley is pushing for change at the World Bank and IMF, among others. 😂 And make more of a grift? Yes…Barbados is where all the important people come from. I’m sure her bank account has swelled.
La source: axios - 🏆 302. / 63 Lire la suite »

Less than 1% of staked ETH estimated to be sold after Shapella: Finance RedefinedJust 170,000 Ether of the 18.1 million staked on the Beacon Chain will be unlocked in the first week since the Shanghai hard fork, according to Glassnode. The validator withdrawal feature is part of a later phase, which is not yet live on the mainnet but is currently being tested on various testnets. Despite the success of the Shapella upgrade, a potential privacy concern has emerged for staking ETH. An Ethereum researcher discovered that staking Ether shows a user’s IP address information. blockchain is not useful use Holochain for further future hololive
La source: Cointelegraph - 🏆 562. / 51 Lire la suite »