Summary:
As if the traditional banking system isn’t causing enough troubles, a DeFi lending protocol called Euler Finance was also hit by a flash-loan attack. The damage equates to almost 0 million worth of staked ether, USDC, wrapped BTC, and DAI. Euler Finance is a decentralized lending protocol that was most recently exploited for a whopping 7 million in total. The breakdown of the funds is as follows: .7 million worth of the decentralized stablecoin DAI, million worth of USDC, million WBTC (wrapped BTC), and 6 million worth of staked ETH. The hacker was able to borrow a large amount of money and drain them from the DeFi protocol through a so-called flash loan. The way flash loans work is they enable users to take a loan without collateralizing them, provided
Topics:
George Georgiev considers the following as important: AA News, crypto scams, Hacking
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As if the traditional banking system isn’t causing enough troubles, a DeFi lending protocol called Euler Finance was also hit by a flash-loan attack. The damage equates to almost 0 million worth of staked ether, USDC, wrapped BTC, and DAI. Euler Finance is a decentralized lending protocol that was most recently exploited for a whopping 7 million in total. The breakdown of the funds is as follows: .7 million worth of the decentralized stablecoin DAI, million worth of USDC, million WBTC (wrapped BTC), and 6 million worth of staked ETH. The hacker was able to borrow a large amount of money and drain them from the DeFi protocol through a so-called flash loan. The way flash loans work is they enable users to take a loan without collateralizing them, provided
Topics:
George Georgiev considers the following as important: AA News, crypto scams, Hacking
This could be interesting, too:
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As if the traditional banking system isn’t causing enough troubles, a DeFi lending protocol called Euler Finance was also hit by a flash-loan attack.
The damage equates to almost $200 million worth of staked ether, USDC, wrapped BTC, and DAI.
- Euler Finance is a decentralized lending protocol that was most recently exploited for a whopping $197 million in total.
- The breakdown of the funds is as follows: $8.7 million worth of the decentralized stablecoin DAI, $34 million worth of USDC, $19 million WBTC (wrapped BTC), and $136 million worth of staked ETH.
- The hacker was able to borrow a large amount of money and drain them from the DeFi protocol through a so-called flash loan.
- The way flash loans work is they enable users to take a loan without collateralizing them, provided they are able to return the borrowed funds within the same block.