For DeFi projects, choosing a price oracle is a tradeoff between security and up-to-date information

January 13, 2021 chainlink, DeFi, Ethereum, Flash loan, price oracles Eddy 0

Quick Take The amount of money stolen via DeFi hacks has increased significantly in the past few months, and many of the attacks exploited price oracles. How to set up a secure and trustworthy price oracle remains a subject of healthy debate. This feature story is available to subscribers of The Block Daily. You can […]

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DeFi protocol Warp Finance says it has recovered 75% of stolen funds, about $5.85 million

December 21, 2020 DeFi, defi attacks, Flash loan, Warp Finance Eddy 0

Decentralized finance (DeFi) lending protocol Warp Finance, which lost $7.7 million last week in a flash loan attack, has recovered 75% of the funds or about $5.85 million. Announcing the update on Sunday, Warp said it regained the funds in the form of ETH/DAI LP tokens, i.e., Uniswap liquidity provider tokens consisting of ether and […]

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Defi Protocol That Bragged About Having Flash Loan Attack Prevention Hacked for $6 Million

November 17, 2020 Akropolis, Decentralized finance (Defi), Defi protocol hacked, Emiliano Bonassi, Flash loan, Security, Value Defi Eddy 0

A decentralized finance (defi) protocol that bragged about having flash loan attack prevention has been exploited for $6 million in DAI, in a flash loan attack. Value Defi, a yield aggregating protocol, boasted of having the “highest security” in a Nov. 13 tweet that now appears to have been deleted. The protocol claimed that its […]

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DeFi protocol Value DeFi exploited for $7.4M in DAI, attacker returns $2M

November 15, 2020 DeFi, exploit, Flash loan Eddy 0

Value DeFi, a decentralized finance yield aggregating protocol, was exploited early Saturday morning for $7.4 million in DAI.  The attacker executed a flash loan attack, borrowing 80,000 ETH from the Aave protocol. Flash loans allow users to borrow funds instantly, so long as they are returned within one transaction block, meaning users can take advantage […]

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Hackers Drain $2 Million in DAI From Defi Protocol Akropolis

November 13, 2020 Akropolis, Decentralized finance (Defi), Defi protocol hacked, Flash loan, Harvest Finance, News, Ycurve Eddy 0

Decentralized finance (defi) protocol Akropolis was on Thursday hacked for $2 million in DAI, in the latest flash loan attack to hit the nascent defi industry. The attacker pilfered the platform’s Ycurve pool in batches of $50,000 in the stablecoin DAI. This particular pool allows investors to trade stablecoins and earn interest. In a statement […]

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