The hacker who stole $7.4 million from the decentralized finance protocol Hundred Finance has started moving the crypto assets after a year of inactivity.) worth about $800,000 from Curve’s decentralized exchange after providing liquidity on the platform more than one year ago.After withdrawing the funds, the hacker converted USDT and other cryptocurrencies into ETH. This increased the exploiter’s ETH by more than $1 million.a total of $4.
This is commonly known in the DeFi world as a flash loan attack. This type of attack vector usually involves borrowing large amounts of funds with some form of uncollateralized loan from a lending platform.
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DeFi booms as daily active wallets hit 7M, VanEck bullish on Ethereum L2s: Finance RedefinedThe surge in DeFi in recent months saw DApp activity increase by 77% in the fourth quarter of 2023.
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