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Cryptocurrency Ecosystem => Other Popular Cryptos / Coins => Avalanche AVAX Forum => Topic started by: sirty143 on September 16, 2021, 04:36:49 PM

Title: Zabu Finance Suffers First Big Exploit in Avalanche Defi, Loses $3.2 Million
Post by: sirty143 on September 16, 2021, 04:36:49 PM
(https://i.imgur.com/XfPHyFJm.jpg)

Zabu Finance, a decentralized yield farming protocol on Avalanche, suffered the first big hack related to the chain. The protocol was the victim of an exploit that allowed an attacker to steal $3.2 million in tokens, according to reports. The core of the exploit happened due to a vulnerability in the design of the Spore token, which allowed the minting of 4.5 billion zabu that were successfully withdrawn from the platform, taking the value of the currency to 0. See more for yourself here (https://news.bitcoin.com/zabu-finance-suffers-first-big-exploit-in-avalanche-defi-loses-3-2-million/).

Your opinion is greatly appreciated.
Title: Re: Zabu Finance Suffers First Big Exploit in Avalanche Defi, Loses $3.2 Million
Post by: kent47400 on February 16, 2022, 05:02:50 PM
It seems that this Avalanche has to improve itself in developing a very cruel project because the 3.2 million USD stolen is very sad and this is definitely something that is very fatal to have bad thoughts for Avalanche.
Zabu Finance should also be able to warn this because the security system must always be the best because in the future this kind of power will be a priority for the Zabu community in Avalanche.
Title: Re: Zabu Finance Suffers First Big Exploit in Avalanche Defi, Loses $3.2 Million
Post by: damsix on April 06, 2022, 03:57:18 PM
Zabu Finance must learn from this mistake and this is a real shame for Avalanche.
I also don't understand why Zabu Finance could experience a hack like this because I'm sure there must be some Malware that entered.
Hopefully in the future Zabu Finance can develop its business in more detail and be more advanced in terms of security because this effect could be an Avalanche Dump.