A bug in a token issued by decentralized finance (DeFi) protocol Yearn Finance was impacted in an exploit this morning, security firm PeckShield tweeted, leading to millions of dollars in losses.
Losses could total over $11 million and occurred on Aave version 1, the data suggested. These were spread over U.S. dollar-pegged stablecoins dai (DAI), tether (USDT), USD Coin (USDC), binance USD (BUSD) and tru USD (TUSD).
Aave V1 was previously thought to be affected by the exploit. However, Aave developers said the protocol was unaffected and merely used to swap tokens to conduct the exploit, which mainly involved Yearn Finance's yUSD stablecoin.