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Decentralized finance (DeFi) protocols Aave and Yearn Finance are affected by an ongoing flash mortgage assault on the time of writing, Pechshield identified in a tweet.
The exploiter has already drained over $10 million in stablecoins from the protocols, together with over $3 million DAI, $2.5 million USD Coin (USDC), $1.7 million BinanceUSD (BUSD), $1.19 million Tether (USDT), and $1.5 million value of True USD (TUSD), in response to Lookonchain.
On the time of writing, one of many attacker’s wallets held $5.77 million value of property. This consists of round $2.4 million value of Ethereum (ETH), $1.7 million BUSD, and $1.5 million value of Aave interest-bearing TUSD, in response to Etherscan information. The exploiter has been routing the stolen funds by means of a number of wallets.
Aave famous in a tweet that Aave V1, V2, and V3 weren’t impacted by the assault.
As per Peckshield, the foundation reason for the assault on Yearn Finance was a misconfiguration of yUSDT, the liquidity token pegged to your deposited USDT. This allowed the attacker to mint an enormous quantity of yUSDT utilizing solely $10,000 value of USDT. The exploiter then swapped the yUSDT tokens with different stablecoins, Pechshield mentioned.
The assault on Aave and Yearn comes on the heels of the SushiSwap exploit final week that resulted within the lack of over $3 million value of property.
The publish Aave and Yearn Finance exploited for over $10M in stablecoins appeared first on CryptoSlate.
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