DeFi Lender Inverse Finance Exploited for $15.6 Million

  • 📰 CoinDesk
  • ⏱ Reading Time:
  • 58 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 27%
  • Publisher: 63%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

DeFi lending protocol InverseFinance announced today that an exploit allowed an attacker to run away with $15.6 million in user funds. skesslr reports

SushiSwap – inflating the price of INV in the eyes of the Keep3r price oracle.

With the price of INV sufficiently high, the attacker then took out INV-backed loans on Anchor before arbitrageurs brought the price of INV back down to normal levels. A representative from PeckShield noted to CoinDesk that the attack was high-risk, since the $3 million worth of crypto used to trick the price oracle would have been completely lost if the price of INV fell back to normal levels before the attacker took out the loans.

Altogether, the attacker managed to run away with 1588 ETH, 94 WBTC, 39 YFI and 3,999,669 DOLA. The attacker has cycled most of the funds back through Tornado Cash – meaning it’s difficult to know where the funds will end up – but 73.5 ETH remains in the attacker’s originalInverse said in its announcement that it has temporarily paused all borrowing on Anchor, and a representative for the protocol told CoinDesk that it is working with Chainlink to build a new INV oracle.

Inverse also announced that it plans to make a proposal to its decentralized autonomous organization to “ensure all wallets impacted by the price manipulation are repaid 100%,” though without providing further details.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

InverseFinance skesslr There are different ways of investing in Crypto and Olivier can show you safest way to earn especially in Bitcoin dipped and investing now is very much advised. To learn how to earn in crypto without sending money to anyone , kindly reach her on WhatsApp +13134033071

InverseFinance skesslr Such a sad thing. I tried to make my saving on Ownr wallet as save as I could

InverseFinance skesslr Why Insurance Defi don't fucking go to the moon ?

InverseFinance skesslr I've been using this Dexfolio Live DeFi Tracking App to calculate my crypto assets, works on multichain & multiwallets also when you install the app you will find some tokens you forgot. Get it on Playstore and Applestore.

InverseFinance skesslr Ironically, Getting exploited is inverse finance

InverseFinance skesslr

InverseFinance skesslr MATIC has formed a range in the past week stretching from $1.57 lows to the $1.74 highs. Mr Gretchen has been a good investor so far by increasing my crypto asset. He can be reached via telegram(officialgretchenbrayan).

InverseFinance skesslr MBMX leverages safe-haven precious metals, Gold and Platinum, as its store of value.

InverseFinance skesslr Vulnerabilidad de seguridad de un sistema de información //🕵️‍♀️🕵️‍♂️/// Suele pasar

InverseFinance skesslr XMetaverse_ X-Metaverse is a blockchain game developed by Cocos3D and can run on Android, iOS and PC. All game content items and characters are based on blockchain tokens and NFTs. The visual effects and gameplay of X-Metaverse are inspired by StarCraft and Star Wars.

InverseFinance skesslr I would love to know how these arbitrageurs with INV were able to manipulate the price back down. Sounds like a thief stole 15 m from a thief.

InverseFinance skesslr

InverseFinance skesslr That is, a loan office similar to a traditional bank to complete

InverseFinance skesslr X-Metaverse is a 3D Star Wars game based on NFT+ blockchain exploration, mining,trading and battle. It allows players to collect,mine,breed,synthesize,battle, and trade token-based astronauts and battleships,called X-Metaverse.XMetaverse_ also has its own twitter Account.

InverseFinance skesslr 🚀 VAIOT 🚀 Our Broker software is deliverable as an intelligent front-end solution as part of VAIOT 2.0. ✅ 💎Smart e-commerce 💎Aggregation of insurance products 💎Educational sales and service funnels

InverseFinance skesslr Said state of play when I read this and think 'Oh, it's only 15m'.

InverseFinance skesslr BabyDogeCoin BabyDoge BabyDogeArmy BabyDogeFamily BabyDogeCoin2MillionHolders babydoge_cz_binance BabyDogeCoin·

InverseFinance skesslr OK we've read it before. Next..

InverseFinance skesslr we`ve complete this for fans ! UNBELIEVABLE!!!! That was truly something magical to see!!! ...࠭⁦ ... ࠭࠭!!

🏧

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:

 /  🏆 291. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

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

DeFi protocol Inverse Finance suffers exploit, loss of $15 million in cryptoInverse Finance, a lending-focused decentralized finance protocol, was the target of an apparent exploit on Saturday, with approximately $15 million worth of crypto lost during the incident. almost saw it live by chance... inversebrah
Source: TheBlock__ - 🏆 464. / 53 Read more »