DeFi Hackers Attack Another Protocol

Another DeFi protocol is breached. While around $1 million was transferred at the time of publication, practically all accounts on the site might become victims of a new attack.

The Twitter account “YettyWapp” was among the first to announce the presence of a potential exploit. The account reported a suspicious transaction on a profile that drew a far bigger amount than the initial deposit.

The account of the putative hacker has exchanged almost 240 thousand Convex tokens while depositing less than 1,000. According to the exchange, no monies were taken.

The notice came two hours after the original alert warning platform users about the danger of cash being stolen due to an undiscovered curve exploit.

Later in the day, Bent Finance’s official account announced the suspension of all claiming services, implying that investors will be unable to receive their winnings from staking or liquidity pools. The decision was made to prevent potential pool runoff and keep cash safe.

The hack issue arose after blockchain security firm PeckShield reported that the transaction was performed through the Bent Finance Deployer, implying that the platform is somehow linked to the “hack transaction.”

Bent Finance’s official account did not reject the security firm’s tweet, quickly responding that they are “seeing the same thing” and are looking into it. Community users, on the other hand, instantly accused the DeFi platform of insider hacking, implying that either the management or someone working close to the exchange was aware of the issue and used it for their personal gain.

Patrick

Coincu News