Vault Yearn Finance Hacked

[Suba]

Yearn DAI V, on the Yearn Finance DeFi Protocol has been hacked
so that approximately $ 11 Million was lost on February 5, 2021, but due to a technical glitch the hackers only earned $ 2.8 Million.
Currently, Yearn Finance has carried out a suspension or temporary suspension that prevents users from making deposits to these vaults.

Yearn V1 DAI, USDC, USDT, and TUSD are currently in the process of a deeper investigation. Now, Banteg, manager of Yearn Finance, refuses to make further comments until the investigation is complete.
However, Banteg made an analysis stating that the hackers had managed to take around 513,000 DAI and $ 1.7 Million USDT, and the rest was taken in the form of CRV coins.

 

[Kayzzy3]

Yearn DAI V, on the Yearn Finance DeFi Protocol has been hacked
so that approximately $ 11 Million was lost on February 5, 2021, but due to a technical glitch the hackers only earned $ 2.8 Million.
Currently, Yearn Finance has carried out a suspension or temporary suspension that prevents users from making deposits to these vaults.

Yearn V1 DAI, USDC, USDT, and TUSD are currently in the process of a deeper investigation. Now, Banteg, manager of Yearn Finance, refuses to make further comments until the investigation is complete.
However, Banteg made an analysis stating that the hackers had managed to take around 513,000 DAI and $ 1.7 Million USDT, and the rest was taken in the form of CRV coins.

We all ought to realize that hackers everywhere and are active too, it behoves to take care of our assets .

This is not the first time they have struck renowned companies this year, and they are s out there. I wonder what will happen to investor now.

 

[Ralphjoe]

This kind of news of the hacking of most cryptocurrency exchange platforms is what is making me to have the mindset of never investing my cryptocurrency in any of the cryptocurrency exchange platforms because I think that they too can also be hacked at any point in time which can lead to the loss of one's investment.

 

[Nomad]

I am not using Yearn Finance or YFI, i wonder how could this crypto currency gain such a high value, higher than ethereum. Can anyone explain why Yearn Finance is second to bitcoin in price?

 

[Dowenship]

Yearn DAI V, on the Yearn Finance DeFi Protocol has been hacked
so that approximately $ 11 Million was lost on February 5, 2021, but due to a technical glitch the hackers only earned $ 2.8 Million.
Currently, Yearn Finance has carried out a suspension or temporary suspension that prevents users from making deposits to these vaults.

Yearn V1 DAI, USDC, USDT, and TUSD are currently in the process of a deeper investigation. Now, Banteg, manager of Yearn Finance, refuses to make further comments until the investigation is complete.
However, Banteg made an analysis stating that the hackers had managed to take around 513,000 DAI and $ 1.7 Million USDT, and the rest was taken in the form of CRV coins.

both decentralised and centralised exchanges are now vulnerable to hackers this days and it becoming too much which can cus fud in the market.

 

[Justin]

This thread was created a long time ago, but the news like this one always upset me. This is a danger of using exchange platform or online wallet. Therefore, you should use hardware wallet or desktop wallet.

 

[HayKay]

This is where I'm now getting scared because there are a lot of these DeFi sites that offer rewards by staking and a lot of people including myself have always used them to increase our crypto assets base.
This doesn't increase our confidence in them at all.

 

[Ononivami]

So many cryptocurrency exchange have been hacked. This should be an eye opener for other exchanges that are not hacked. The security apparatus should be upgraded inorder to ensure the smooth running .