cryptonews.net
Decentralized lending protocols Yearn and Aave were Impacted in an exploit. The hackers managed to find a vulnerability in the yUSD token and withdraw more than $10 mln in stablecoins and close the loans of all users on the platform.
According to preliminary estimates, after the hack, the hackers withdrew $3 mln in DAI, more than $2.5 mln in USDC, approximately $1.8 mln in BUSD, $1.5 mln in TUSD, and $1.1 mln in USDT. To deceive the protocol, the attackers spent $10,000, and the vulnerability made it possible to create a huge amount of tokens.
Aave representatives ask the community not to spread panic and give developers time to assess the damage. The Aave team stated that this problem did not affect the Aave V2 and V3.
Image: Binance Academy