Ethereum DeFi protocol inverse Finance suffers an exploit.
Inverse finance is the latest protocol to suffer a multi-million dollar exploit. As we all know that the Ethereum DeFi ecosystem has suffered another big hack.
Inverse finance, a stablecoin protocol that watches on the capital-efficient yield generation, was drained in an exploit this early Saturday( approximately $15 million worth of crypto lost during the incident.)
This was made known to the community by PeckShield, one of the crypto industry's top security analytics companies some minutes after the incident.
Read also: Vitalik Buterin Predicts Another Bear Market.
Etherscan data shows that the hacker drained millions of dollars in YFI, WBTC, and Inverse’s own DOLA token from the protocol and then used decentralized exchanges such as Uniswap to trade the assets for Eth...