, the attacker exploited a reentrancy vulnerability in both protocols. Reentrancy is a Solidity programming language vulnerability that allows an attacker to trick a protocol’s contract into making an external call to an untrusted contract. Once this happens, the hacker can then use this untrusted contract to make repeated calls to the protocol to drain its funds.
In the case of Agave and Hundred Finance, the attacker introduced a reentrancy bug on both protocols paving the way for a flash loan exploit. The reentrancy vulnerability appears centered on the “callAfterTransfer” function, allowing the hackers to continue borrowing from the protocols — siphoning off massive swathes of liquidity.
In essence, the attacker was making recursive calls to siphon off user funds without having to put up additional collateral. Then the attacker terminated the exploit with a “liquidationCall,” paying back their initial flash loan while still holding significant liquidity from both projects.
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:
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Hacker Siphons $3 Million Worth of DAI and ETH From Defi Protocol Deus Finance – Bitcoin NewsAccording to a post mortem report, DeusFinance lost around $3 million worth of ethereum and the stablecoin DAI. Another day, another DeFi hack. This is what happens when you race to release your MVP. You can't do that in finance. Trading has been alot easier for me since I came in contact with Mrs layahheil pern....I made $6000 in just 7 days of trading with $500 start up.....👇👇👇 Mrs layahheil pern strategies work's like magic....I Made $5000 in just 7 days of my investment with little start up capital of $500.. you can reach her on WhatsApp..👇👇👇
Source: BTCTN - 🏆 531. / 51 Read more »
$3 Million in DAI and ETH Stolen From Deus Finance in the Latest DeFi HackHacks against DeFi protocols have returned after a brief hiatus, with the latest victim being Deus Finance.
Source: Crypto_Potato - 🏆 568. / 51 Read more »
More Than 80% of the Funds Locked in Decentralized Finance Are Kept on 5 Chains, 21 Different Defi Protocols – Defi Bitcoin NewsThe top five blockchains in defi currently command more than 82% of the $198 billion TVL in defi across all blockchains. EverCash, a BUSD rewards based + hyperdeflationary token launched days ago Ecash Utility💎 Ecash wallet Ecash tracker rewards Peer to Peer Market UNIQUE TOKENOMIC FEATURES 💎 🟢 2% BUSD Rewards 🔥 2% Buy Back & Burn ♻️ 1% LP 💰 1% Marketing bankrupt blinmetaverse blin blin fake Ever heard of $POND by MarlinProtocol It's one of my favourite project and I'm sure it'll X100 this month.
Source: BTCTN - 🏆 531. / 51 Read more »
Deus Finance DAO suffers $3 million flash loan attackAn attacker has siphoned about $3 million in crypto from a DeFi protocol called Deus Finance DAO by means of a flash loan exploit. 🎉We broke ？？？？+ users on day 14 of our V2 test🎉 🎊10 Mystery Box Giveaway🎊 1/Follow XMetaverse_ and join 2/Tag 3 friends 3/Comments take a guess the number of people end of V2 test and BSC addresses In 24hrs, 10winner for V2 test end Time！ ✌🏼 deuces
Source: TheBlock__ - 🏆 464. / 53 Read more »