Another decentralized financial protocol has been hacked onto Polygon, adding to the list of affected platforms.
The latest victim is the Defi SafeDollar stablecoin protocol, although little is known at press time.
DeFi analytics sites DeFiPrime and RugDoc have posted crash warnings in the past few hours claiming that the SafeDollar protocol has fallen.
????‼ ️SafeDollar may have been exploited for 250,000 USD in USDC and USDT‼ ️????
Here is the exploitation contract: https://t.co/2jK9z6TdB1 pic.twitter.com/fzGkhl145N
– Rugdoc.io (@RugDocIO) June 28, 2021
According to the contract address on the Polygon Scan dashboard, USDC 248 million and tether were removed from the log on June 28.
At the time of going to press, there are no updates to the SafeDollar Twitter feed. The platform itself shows that the stablecoin SDO has dropped to zero.
The protocol’s Telegram channel issued a warning of the attack, telling users to stop SDO transactions:
This isn’t even the first time this protocol has been attacked. On June 22nd, SafeDollar conducted the in-depth investigation into an attack that lost 9,959 SDSs, valued at around $ 95,000 at the time.
SafeDollar is an algorithmic stablecoin that combines the unique properties of coinage, deflation and synthetic assets. Earlier this month, the protocol dropped $ 100,000 in SDO tied tokens to multiple DeFi communities, including bDollar, Iron Finance, MidasDollar, Safemoon, and Quickswap.
Annie
According to Beincrypto
Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page
The United States Securities and Exchange Commission (SEC) has extended its decision deadline for the…
LayerZero Labs collaborates with Chaos Labs and Nansen to conduct a LayerZero sybil detection report…
MicroStrategy Bitcoin holdings are now more than any country, with 214,400 BTC worth $13.6 billion.
The highly anticipated Bitcoin Seoul 2024 conference is gearing up to be a revolutionary event…
As an experimental festival, Non-Fungible Conference aims to revolutionize event frameworks, offering attendees a glimpse…
Blockchain Week Rome 2024 is set to unite the Italian and international crypto communities in…
This website uses cookies.