Tuesday, July 5

DeFi Grim Finance Protocol Lost $ 30 Million In 5-Reentry Hack By CoinTelegraph

© Reuters. DeFi Grim Finance protocol lost $ 30 million in 5 reentry hack

Decentralized finance (DeFi) protocol Grim Finance reported $ 30 million in losses due to a reentry exploit on the platform’s deposits.

Grim Finance officially announced on December 18 that an “outside attacker” had exploited the DeFi platform, stealing “more than $ 30 million” in cryptocurrency.

  • DeFiChain Launches Decentralized Asset Tokens and Tokenized Stock Trading

According to Grim Finance, the hack was an “advanced attack”, in which the attacker exploited the protocol vault contract through five reentry loops, allowing them to fake five additional deposits in a vault while the platform is processing the first deposit.

Read the full article on Cointelegraph

Legal warning: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.


Leave a Reply

Your email address will not be published.