hacker makes off with $US2.8 million
worth of DaiUSDT, USDC, TUSD and CRV tokens also
taken in the hacktotal hack equating to $US11m
Curve Liquidity provides gain $US3m from
the heistYearn finance suspends V1 Dai Vault
Defi lending leader Yearn Finance suffers another hack resulting in a multi million dollar loss of assets.
The hacker exploited weaknesses in Yearn Finance's V1 Dai vault which saw them net cryptocurrancy worth $US2.8m. 160 transactions we're made totalling $US5000 in GAS fees. Liquidy providers netted $US3m in fees and Yearn Finance has been silent on what the extra losses entailed.
This isn't the first time Yearn Finance has come under attack and hackers made off with millions of coins. An earlier attack last year saw hackers escape with Eminence a project in development, cleaning it of $US15million of funds while the developer slept.
Yearn Finance is currently undertaking an investigation and in an attempt to locate the hacker and the wallets the coins have been sent to.
Yesrn finance has suspended all deposits to V1 yDai in an attempt to mitigate risk. Investors voted on their feet as they sold Yearn causing the coin to drop almost $US10,000, however has been on an upward trend.
Yearn Finance continues to be the target of hackers and with cyber security becoming an issue, investors are asking what Yearn Finance is doing to strengthen security and ensure this doesn't happen a third time.