DeFi Hack February 4, 2021 Yearn.finance 9 million US dollars

[BestEarningTips]

February 4, 2021 Yearn.finance 9 million US dollars

After Yearn exploit, attacker funds frozen and reimbursement plans developing Read More : https://cointelegraph.com/news/after-yearn-exploit-attacker-funds-frozen-and-reimbursement-plans-developing
After Yearn exploit, attacker funds frozen and reimbursement plans developing
Seized funds bring the damage down to $9 million as multiple communities ponder the next step in reimbursing user funds

Transaction ID: https://etherscan.io/tx/0xb094d168dd90fcd0946016b19494a966d3d2c348f57b890410c51425d89166e8
Transaction Fee:3.37117716 Ether and 1M profit (8 out of 9 million were lost in a transaction)

[H2O]

It's a another sad news for cryptocurrencies market and specially for DeFI supporters. DeFI is a completely risky plafrorms and has no centralized control system. Before investing any DeFI projects should investigate deeply.

[Shahinaz]

bad news at the beginning of the year, unfortunately it happens again and again, the defi system is very risky for breaches because it does not have a controlled system,

[masterrex]

February 4, 2021 Yearn.finance 9 million US dollars

After Yearn exploit, attacker funds frozen and reimbursement plans developing Read More : https://cointelegraph.com/news/after-yearn-exploit-attacker-funds-frozen-and-reimbursement-plans-developing
After Yearn exploit, attacker funds frozen and reimbursement plans developing
Seized funds bring the damage down to $9 million as multiple communities ponder the next step in reimbursing user funds

Transaction ID: https://etherscan.io/tx/0xb094d168dd90fcd0946016b19494a966d3d2c348f57b890410c51425d89166e8
Transaction Fee:3.37117716 Ether and 1M profit (8 out of 9 million were lost in a transaction)

Honestly, I'm already tired of this so-called Hack, who knows that it was orchestrated by the same people who made the project in other words an inside job, thats why I have doubting those projects especially if they are not showing their true identity thats why I'm not investing in a project that the team is hiding thats already a red flag in my opinion. 

[Pheonyx]

Every potential project is always in the watch list of hackers which is making us be more vigilant on securing our fund.  We never know how much ready they are but we have to be always on guard to keep our fund safe.

[TomPluz]

The biggest reason why we are approving decentralization with the ongoing rush for DeFi platforms is that we are convinced that centralized and traditional institutions can be soooo risky because anytime they can be doing whatever that comes to their fancy. However, we are shocked to see that with many DeFi platforms, there can be a much bigger risk: hacking. This is so ironic and quite a big shame. I now realized one of the biggest wisdom I got from years: human nature is something that is beyond regulation, legislation and decentralization.

[Hope4life]

That's sad news, DeFi is a great innovation project but it seems there are some flaws in it. Decentralization is good, but when faced with hacking cases like this we find it difficult to sue because there is no legal institution.

[Ghozrd]

There is always news about hacks every year, hopefully this can be resolved slowly and if possible quickly, because everything takes process and time, when funds are frozen, one cannot withdraw funds from the wallet. Hopefully there is a way out to avoid something like this.

[Octoalts]

Those who lost their assets had bad luck, and the joy that hackers would have also failed because their assets were frozen.  This must be made into an experience and we have to be even more careful.  Hopefully this incident doesn't happen again, and the news about Cryptocurrency hacking stop.

[vitek146]

Hackers steal hundreds of millions or even billions of dollars every year by finding loopholes in their protection or using fake addresses of exchanges and wallets. They get smarter and learn all the time in search of even more sophisticated ways to withdraw funds, the only thing they cannot find a loophole for is the private key to the ether wallet, so you need to be very careful not to enter it on sites that do not inspire confidence.

[Paglamon]

YFI is currently a very popular coin. A coin that has gained a lot of value in a very short time. Being used as a medium of transaction in various ways. Its price was much higher than the price of Bitcoin. But currently less. Most investors have benefited. There is a section for DeFi. So yfi is constantly becoming popular.

[EAA-ALLAH]

In cryptocurrencies market, hacking a common feature . But some exchanges hacking touching my heart . Last year Kucoin acutely hacked and more than 280 millions liquidities hacked. Yearns Finance projects are hacked more than 9000000$ that another heart touching hacked news for DeFI holders.