News Formal

Conic Finance drained of $3.2 million in security attack

  • 📰 TheBlock__
  • ⏱ Reading Time:
  • 36 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 53%

Россия Новости Новости

Россия Последние новости,Россия Последние новости

DeFi protocol Conic Finance suffered an exploit by a hacker who managed to make off with 1700 ether.

A hacker stole 1700 ether, valued over $3.2 million.Connect/Create WalletNo wallet? No problem. You can set one up for free. We recommend Torus for first-time users.DeFi protocol Conic Finance suffered an exploit today by a hacker who managed to make off with 1700 ether , according to security analysts at BlockSec. Conic is a DeFi protocol designed to allocate funds across the Curve decentralized exchange using the liquidity pools it operates.

The unidentified attacker exploited a reentrancy vulnerability, which subsequently allowed the manipulation of a faulty price oracle that Conic relied on. This enabled them to drain funds, said Matthew Jiang, the director of security services at BlockSec, in an interview with The Block.the ability to repeatedly call a function within a single transaction before the initial function call completes. This mechanism lets the attacker withdraw more funds than they’re entitled to.

© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

 

Спасибо за ваш комментарий. Ваш комментарий будет опубликован после проверки
Мы обобщили эту новость, чтобы вы могли ее быстро прочитать.Если новость вам интересна, вы можете прочитать полный текст здесь Прочитайте больше:

 /  🏆 464. in RU

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

Curve omnipool platform Conic Finance hacked for $3.2 million in ETH👀 Curve omnipool platform Conic Finance is investigating an exploit on the Ethereum omnipool, which reportedly allowed hackers to steal $3.2 million. DeFi hacks are not something new to the industry. According to a report by Web3 portfolio app DeFi hacks and scams allowed hackers to steal more than $204 million in the second quarter of 2023 alone.
Источник: Cointelegraph - 🏆 562. / 51 Прочитайте больше »

Stablecoin Issuer Lybra Finance Launches Arbitrum Testnet Amid Quest to Be More DeFi-FriendlyUsers can now interact with Lybra’s new companion stablecoin peUSD, which is said to be more compatible with decentralized finance protocols than the protocol’s main stablecoin eUSD.
Источник: CoinDesk - 🏆 291. / 63 Прочитайте больше »