According to PeckShield, today’s attacker targeted the liquidity tokens held by Team Finance. The attack impacted four projects: CAW (A Hunters Dream), Dejitaru Tsuka, Kondux, and Feg. CAW was the most severely damaged by the event, with the attacker stealing $11.5 million in liquidity tokens.
According to the DeFi liquidity locker, the attacker abused its audited version 2 to version 3 migration mechanism.
According to PeckShield, the migration function weakness lets the attacker influence the price of liquidity tokens while converting from v2 to v3. Because of this price skewing, the attacker benefited significantly when the migration procedure was done.
Team Finance also advised the exploiter to contact them to negotiate a reward payout. Following a slew of high-profile breaches and vulnerabilities, such arrangements are becoming more popular in the DeFi domain.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
CoinCu News
Grand Cayman, Cayman Islands, 22nd November 2024, Chainwire
Best Cryptos to Invest in December 2024: Qubetics surges past $2.6M, Solana’s whale pump ignites…
As Bitcoin reaches unprecedented heights and the market surges, he's highlighting five altcoins poised for…
With the crypto market reaching new peaks, many are eager to discover digital currencies poised…
XYZVerse, blending sports passion with meme energy, is set to make a significant impact, uniting…
Will Bitcoin Crash?" seems to be one of the most controversial questions, as the price…
This website uses cookies.