Altcoins Talks - Cryptocurrency Forum

Cryptocurrency Ecosystem => DeFi tokens => Topic started by: Nikawe on May 09, 2021, 06:02:47 PM

Title: DeFi loses $17 million in two incidents
Post by: Nikawe on May 09, 2021, 06:02:47 PM

Attackers have stolen funds in nine assets, including 15,000 Binance Coins (BNB) and 68,300 BUSD. All funds were immediately swapped for various Ethereum-based tokens.

A bug in the codebase that prevents the swap fuction from acting in the correct manner under certain circumstances has been identified by Mr. Igamberdiev as the "root cause" of this attack.

Thus, liquidity pools are congested due to a lack of balance between the first and second asset amounts in the pool pairs.source (https://cryptonews.net/620976/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared)

Title: Re: DeFi loses $17 million in two incidents
Post by: Review Master on May 09, 2021, 06:50:51 PM

Obviously, it's an insider job from the team of value defi as they hired a freelancer from fiverr to make a video presentation where she acted like the co-founder of Value defi AMM which is also an identity fraud by the team. Better for all to use only well audited or popular AMM for swaps or yield farming, even it gives us low apy, IMO.