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Cryptocurrency Ecosystem => DeFi tokens => Topic started by: sneakyboi on November 13, 2020, 10:26:56 AM

Title: DeFi Project Akropolis Drained of $2M in DAI
Post by: sneakyboi on November 13, 2020, 10:26:56 AM
DeFi Project Akropolis Drained of $2M in DAI



Decentralized finance (DeFi) platform Akropolis has suffered a $2 million loss following a re-entrancy attack utilizing a flash loan from derivatives platform dYdX, according to Akropolis founder and CEO Ana Andrianova.

The attacker pulled out tranches of $50,000 in DAI from the project’s yCurve and sUSD pools, according to The Block researcher Steven Zheng and Andrianova. The attacker collected $2 million worth of the stablecoin before exhausting the pools.

Learn more about the news here. (https://www.coindesk.com/defi-project-akropolis-token-pool-drained)
Title: Re: DeFi Project Akropolis Drained of $2M in DAI
Post by: hair on November 16, 2020, 11:54:05 PM
Was this due to negligence of the project team or their weak security system?
Title: Re: DeFi Project Akropolis Drained of $2M in DAI
Post by: EAA-ALLAH on November 17, 2020, 09:54:07 AM
Quote from: hair on November 16, 2020, 11:54:05 PM
Was this due to negligence of the project team or their weak security system?
Actually most of the hacking phenomena occurring due to neglecting of projects team authorities. Because Binance and others cryptocurrencies exchange security systems very strong and Private ,but how can hackers hacked cryptocurrencies exchange and theft millions millions dollars?
Title: Re: DeFi Project Akropolis Drained of $2M in DAI
Post by: Paglamon on November 17, 2020, 09:59:59 AM
Hackers are constantly trying to steal the team's assets. However, due to the negligence of some project teams, hackers get a chance to hack. Some are hacked for lack of security. If the security system is good, there is no possibility of being hacked. The security system is very good for good exchanges so there are no hacking incidents.
Title: Re: DeFi Project Akropolis Drained of $2M in DAI
Post by: hair on November 17, 2020, 11:19:08 PM
Quote from: EAA-ALLAH on November 17, 2020, 09:54:07 AM
but how can hackers hacked cryptocurrencies exchange and theft millions millions dollars?
I also want to know the cause. many cases that happened were the DeFi project, this made me hesitate to invest in the DeFi project
Title: Re: DeFi Project Akropolis Drained of $2M in DAI
Post by: EAA-ALLAH on November 25, 2020, 03:44:29 PM
Quote from: hair on November 17, 2020, 11:19:08 PM
Quote from: EAA-ALLAH on November 17, 2020, 09:54:07 AM
but how can hackers hacked cryptocurrencies exchange and theft millions millions dollars?
I also want to know the cause. many cases that happened were the DeFi project, this made me hesitate to invest in the DeFi project
Recently defi projects scamming a simple phenomena in cryptocurrencies market. Pickle, dai flash loan scamming, uniswap decentralized exchange fake google application scams, and acropolis scamming are the most discussing event in recently.