Hacker Steals $6.9 Million From Arbitrum-Based Defi Protocol Lodestar Finance – Defi Bitcoin News

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Reports detail that the DeFi protocol Lodestar Finance lost roughly $6.9 million from the vulnerability on Saturday.

detail. “[The] protocol was exploited and deposits have been drained,” Lodestar’s official Twitter account said. “We have set all interest rates to 0 so that supply and borrow balances are not moving while we weigh recovery options.”

Lodestar says the hacker “manipulated the exchange rate of the plvGLP contract” and then “supplied plvGLP collateral to Lodestar and borrowed all available liquidity.” This allowed the exploiter to cash out “what they could.” However, a “collateralization ratio mechanism prevented them from fully cashing out the plvGLP,” the team noted on Saturday.

Via the team Discord channel, Lodestar team members explained that they had paused borrowing and liquidation activity.

이 소식을 빠르게 읽을 수 있도록 요약했습니다. 뉴스에 관심이 있으시면 여기에서 전문을 읽으실 수 있습니다. 더 많은 것을 읽으십시오:

 /  🏆 531. in KR
 

귀하의 의견에 감사드립니다. 귀하의 의견은 검토 후 게시됩니다.

Crypto industry just being torn apart hahahaha

Arghh. Another hack. Stay safe guys.

North Korea or Russia no doubt.

How do you hack?

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