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?

Make profit on every trade with uptraderx1 daily signal, he give future signals with about 80% to 79%+ profit in return. I am also a beneficiary from his signals and analysis, and with their incredible earning app ✅✅💯 Follow Uptraderx1 Uptraderx1

Defrost_Finance sheldonreback Ankr did all this growth in bear market. Imagine what ankr can achieve as the market improves Look at these Ankr 2022 RPC Stats 🔥 - Ankr grew by 2,000% in RPC requests - 8 Billion daily RPC requests - 40,000 distinct developers - 30+ global regions with nodes serving traffic

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?

Defrost_Finance sheldonreback I feel impressed with the wonderful work done, I took a risk by jumping on ArthurbrianRfx signals and I made 1700% in 21 days without getting liquidated. Binance Christmas promo

Defrost_Finance sheldonreback

Defrost_Finance sheldonreback Never heard of Defrost Binance. Stick with Saita_Swap and SaitaPro🔥

Defrost_Finance sheldonreback Join for binance futures trade calls and start making lots of profits on our telegram channel

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

DeFi flash loan hacker liquidates Defrost Finance users causing $12M lossAn unfortunate timing: Defrost Finance investigates flash loan attack on Christmas day. Users are advised against using Defrost V1 and V2 services until further notice. proofofinuerc It's getting ready for next legup Strong consolidation happening! It breakout anytime 💰 They just look fire man, I',m so excited for the results!! $POI proofofinu shib2 The world really needs Scrypto 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
Source: Cointelegraph - 🏆 562. / 51 Read more »

Web3 projects would rather get hacked than pay bounty: Finance RedefinedThe total value locked in DeFi dipped below $40 billion, marking another low towards the end of 2022. Yes coz some developers hacked their own project. Hmm they are here trying to collect people Gmail account. Yeah, they're just surrendering on sight. Return our stolen funds pls :(
Source: Cointelegraph - 🏆 562. / 51 Read more »

Dallas-based Stream Data Centers appoints new VP of financeIn her new role, Space will lead the development of new financial processes, structures and partner collaborations to further company growth.
Source: DallasBizNews - 🏆 525. / 51 Read more »

Germany's KfW lends Tunisia 300 million euros to finance developmentGerman state lender KfW (KFW.UL) on Friday lent 300 million euros ($319 million) to Tunisia to finance projects in renewable energy, water and rural development, officials said. আজজ
Source: Reuters - 🏆 2. / 97 Read more »