Platypus Finance, a decentralized finance [DeFi] protocol based on the Avalanche blockchain, reportedly faced a flash loan attack on October 12, resulting in an estimated loss of over $2 million. The attack, detected by leading blockchain security firm Peckshield, exposed vulnerabilities in the platform’s security. In a flash loan attack, hackers exploit uncollateralized lending to […]
flash loan
Cream Finance Hackers Swaps $1.75M ETH To BTC
Hackers of the infamous Cream Finance heist reportedly exchanged roughly 1000 ETH which is worth $1.75 million for 80 RenBTC, blockchain security expert PechShield noted. RenBTC is an ERC-20 token that allows a decentralized representation of Bitcoin within Ethereum. Twitter users reacted angrily with many questioning the platform’s competencies and its inability to prevent such attacks. […]
Binance Smart Chain believes hackers are specifically targeting it following back-to-back DeFi exploits.
Binance Smart Chain believes hackers are specifically targeting it following back-to-back DeFi exploits. Several defi protocols built on top of Binance Smart Chain [BSC] decentralized finance ecosystem have suffered one after another hacks and exploits in a short period of time that has stemmed especially this past month. The platform believes that the recent flash […]
Binance Smart Chain DeFi PancakeBunny Suffers Flash Loan Exploit
Another day, another flash loan attack on a defi protocol. A Binance Smart Chain [BSC] decentralized finance [defi] yield optimizer project called PancakeBunny, has supposedly suffered an “economic exploit”. According to the PancakeBunny team’s official post on Twitter, the protocol was subjected to a flash loan attack from an external actor. However, the platform clarified […]
Binance Smart Chain’s DeFi Project Losses Over $30M In Flash Loan Exploit
A DeFi project Spartan Protocol’s contract suffered an exploit that led to loss of more than $30 million in funds. The incident reportedly originated due to a flawed liquidity share calculation in the protocol, that resulted in the drainage of assets from the pool. In the post-mortem blog post, the security firm PeckShield detailed, “In […]
Another DeFi Protocol Loses $7 Million In Flash Loan Exploit
Malicious actors are increasingly leveraging flash loans to fund attacks on decentralized finance [DeFi] protocols. Another one is biting the dust. This time, the Origin Protocol’s yield-generating stablecoin protocol, OUSD, was attacked and drained by nearly $7 million, of which $1 million was deposited by the company’s founders and employees. After tracing the movement of […]