Friday, February 3

Tag: hack

Inverse Finance hacks result in a loss of $15.6 million.
Blockchain

Inverse Finance hacks result in a loss of $15.6 million.

The hacking incident happened yesterday 2nd April 2022 the inverse finance, an open-source protocol for lending and borrowing that runs on the Ethereum blockchain has been gotten to be $15.6 million. The team says the hack was not related to the smart contract. The attacker was able to inflate the price of the token by taking an advantage of an oracle manipulation bug, this allowed them to borrow millions in different tokens, including the Yearn.Finance(YFI)  and Bitcoin (wBTC) on its anchor money market. Etherscan print https://twitter.com/InverseFinance/status/1510282040809299972 Hackers' methodology Most of the funds have been laundered with the help of tornado cash, which makes it hard for the authorities to track down the ill tokens as the Hacker had already dep...